12:3-47 - Additional consideration for further grant
12:3-47.Ā Additional consideration for further grant
If the board shall determine that the original consideration paid to the state for the supposed grant was not the reasonable, fair and adequate value ofĀ the lands so occupied, as of the date of the supposed grant, the applicant shall pay to the state such additional consideration for a further grant as theĀ board shall determine to be necessary, in order that the total considerationĀ received by the state for the lands shall be reasonable, fair and adequate asĀ of the date of the original supposed grant.
Ā
If the board shall determine that the original consideration paid to the state for the supposed grant was not the reasonable, fair and adequate value ofĀ the lands so occupied, as of the date of the supposed grant, the applicant shall pay to the state such additional consideration for a further grant as theĀ board shall determine to be necessary, in order that the total considerationĀ received by the state for the lands shall be reasonable, fair and adequate asĀ of the date of the original supposed grant.
Ā