43 C.F.R. § 3214.19   What are my bonding requirements when a lease interest is transferred to me?


Title 43 - Public Lands: Interior


Title 43: Public Lands: Interior
PART 3200—GEOTHERMAL RESOURCE LEASING
Subpart 3214—Personal and Surety Bonds

Browse Previous |  Browse Next

§ 3214.19   What are my bonding requirements when a lease interest is transferred to me?

(a) Except as otherwise provided in this section, if the lands transferred to you contain a well or any other surface disturbance which the original lessee did not reclaim, you must post a bond under this subpart.

(b) If the original lessee does not transfer all interest in the lease to you, you may become a co-principal on the original bond, rather than posting a new bond.

(c) You do not need to post an additional bond if:

(1) You previously furnished a statewide or nationwide bond; or

(2) The operator provided the original bond, and the operator does not change.

Browse Previous |  Browse Next

chanrobles.com


ChanRobles Legal Resources:

ChanRobles On-Line Bar Review

ChanRobles Internet Bar Review : www.chanroblesbar.com

ChanRobles MCLE On-line

ChanRobles Lawnet Inc. - ChanRobles MCLE On-line : www.chanroblesmcleonline.com