GENERAL ASSEMBLY OF NORTH CAROLINA
1993 SESSION
CHAPTER 322
AN ACT TO MODIFY THE ANNUAL RENTAL CHARGED FOR WATER COLUMN LEASES.
The General Assembly of North Carolina enacts:
Section 1. G.S. 113-202.1(d) reads as rewritten:
"(d) Amendments of
shellfish cultivation leases to authorize use of the water column are issued
for a period of five years or the remainder of the term of the lease, whichever
is shorter. The annual rental for an initial water column amendments
amendment is one hundred dollars ($100.00) an acre for each of
the first four years for which the amendment is issued and five hundred
dollars ($500.00) per acre, prorated. an acre for the fifth year for
which the amendment is issued. The annual rental for a renewed water
column amendment is five hundred dollars ($500.00) an acre. If a year for
which a water column amendment is issued is less than a 12-month period, the
rental for that year shall be prorated based on the number of months in the year.
The annual rental for an amendment is payable at the beginning of the
year. The rental is in addition to that required in G.S.
113-202."
Sec. 2. G.S. 113-202.2(d) reads as rewritten:
"(d) Water column leases
to perpetual franchises shall be issued for a period of five years and may be
renewed pursuant to subsection (g) of this section. The annual rental
for an initial water column leases shall be five hundred dollars
($500.00) per acre, prorated, or the then current renewal rate, whichever is
greater. lease issued under this section is the same as the rental set
in G.S. 113-202.1 for an initial water column amendment issued under that
section, and the rental for a renewed water column lease issued under this
section is the same as the rental set in G.S. 113-202.1 for a renewed water
column amendment issued under that section."
Sec. 3. This act is effective upon ratification and applies to leases that are in effect on that date or are entered into on or after that date.
In the General Assembly read three times and ratified this the 9th day of July, 1993.
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Dennis A. Wicker
President of the Senate
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Daniel Blue, Jr.
Speaker of the House of Representatives