Section 362.105 - "Royalty" defined As used in NRS 362.100 to 362.240, inclusive, unless the context otherwise requires:
1. "Royalty" means a portion of the proceeds from extraction of a mineral which is paid for the privilege of extracting the mineral.2. "Royalties" do not include: (a) Rents or other compensatory payments which are fixed and certain in amount and payable periodically over the duration of the lease regardless of the extent of extractions; or(b) Minimum royalties covering periods when no mineral is extracted if the payments are fixed and certain in amount and payable on a regular periodic basis.Added to NRS by 1975, 135; A 1989, 35; 2013, 3143Repealed by 2013, Ch. 495,§48, eff. 11/25/2014, only if pursuant to Section 1 of Article 16 of the Nevada Constitution, the provisions of SJR 15, which were proposed, agreed to and passed by the 76th Session of the Legislature and published as file number 44, Statutes of Nevada 2011, and which were also agreed to and passed by the 77th Session of the Legislature, are approved and ratified by the voters at the general election on 11/4/2014.Added to NRS by 1975, 135; A 1989, 35