§ 76. Surrender of grant. A grantee or his successor in interest, may\nat his option surrender to the state, without consideration or for a\ncompensation to be determined by the commissioner, the lands under water\ntheretofore granted to him or any part thereof, by filing with the\ncommissioner a certificate duly executed and acknowledged, declaring his\nintention of such surrender and containing a description of the lands\nsurrendered, subject to the acceptance of such surrender by the\ncommissioner; and such surrender when so accepted shall be without\nprejudice to an application for a new grant upon such terms and\nconditions as the commissioner may determine.\n
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