SECTION 385:10-1-17. Subordination agreements

  Subordination of mortgage to an oil and gas lease may be granted at the option of the Commissioners to allow the payment of bonuses, rentals and royalties to the oil and gas lessor, who is mortgagor to the State. If such mortgagor has executed an assignment which provides for payment of rentals, royalties, or bonuses under the oil and gas lease to the Department, the Commissioners at their option may give notice in writing to the oil and gas lessee of the State's desire to receive payment of the bonus, rentals and/or royalties.