sec.227Storage rent payable by current owner

### sec.227 Storage rent payable by current owner Each person who is a current owner of any of the stored petroleum or prescribed storage gas must pay the State rent for storing the stored petroleum or prescribed storage gas that the current owner owns from time to time. The rent is payable from when the person became the current owner of the stored petroleum or prescribed storage gas until the earlier of the following events to happen— the person ceases to be the current owner of any of the stored petroleum or prescribed storage gas; the taking effect of a petroleum lease the area of which includes the reservoir; under section 226 , the stored petroleum or prescribed storage gas becomes the property of the State. The rent must be paid at the rate and in the way prescribed under a regulation. s 227 amd 2005 No. 3 s 52 (sec.227-ssec.1) Each person who is a current owner of any of the stored petroleum or prescribed storage gas must pay the State rent for storing the stored petroleum or prescribed storage gas that the current owner owns from time to time. (sec.227-ssec.2) The rent is payable from when the person became the current owner of the stored petroleum or prescribed storage gas until the earlier of the following events to happen— the person ceases to be the current owner of any of the stored petroleum or prescribed storage gas; the taking effect of a petroleum lease the area of which includes the reservoir; under section 226 , the stored petroleum or prescribed storage gas becomes the property of the State. (sec.227-ssec.3) The rent must be paid at the rate and in the way prescribed under a regulation. - (a) the person ceases to be the current owner of any of the stored petroleum or prescribed storage gas; - (b) the taking effect of a petroleum lease the area of which includes the reservoir; - (c) under section 226 , the stored petroleum or prescribed storage gas becomes the property of the State.