2004 Minnesota Statutes

     80A.30 Registration of oil or gas lands or interest 
  before sale. 

    Subdivision 1.    Generally.  No person shall sell to any person 
 in this 
 state any lands represented to contain or to be a prospect for 
 oil or gas, or any interest therein or thereunder, or in 
 royalties therefrom, unless and until those lands, interests or 
 royalties shall have been first registered under this chapter.  
 Registration shall be made or denied in substantially the same 
 manner and upon substantially the same grounds and conditions as 
 are prescribed for the registration of securities by section 
 80A.11.  The fees for registration shall be calculated in the 
 same manner as the fees for registration of securities under 
 section 80A.28, subdivision 1.  

    Subd. 2.    Exception.  This section shall not apply to any 
 isolated sale 
 not made or occurring in the course of repeated or successive 
 sale; nor to any judicial sale or any transaction lawfully 
 ordered, authorized, or approved by a court of competent 
 jurisdiction in this state; nor to any sale to a bank or 
 financial institution under the supervision of any 
 instrumentality or officer of the United States or of the 
 commissioner of commerce of this state, or a licensed 
 broker-dealer; nor to any sale made in compliance with the 
 provisions of section 80A.15, subdivision 2, clause (g) or (h).  
 In any complaint, information or indictment charging a sale in 
 violation of this section, it shall not be necessary to 
 specifically name or identify persons other than the complainant 
 to whom like sales have been made.  

    HIST: 1973 c 451 s 30; 1981 c 140 s 16; 1984 c 552 s 6