Overview

Home

Effective March 29, 1929, the 41st Legislature, Regular Session, created the Board for Lease of University Lands (Board for Lease). The Board for Lease has complete authority over the leasing of oil and gas on permanent university fund (PUF) lands. The Board for Lease consists of the Commissioner of the General Land Office, serving as Chairman, two members of the Board of Regents of The University of Texas System, and one member of the Board of Regents of the Texas A & M University System. Except for the Commissioner of the General Land Office, members serve 2-year terms.