30 CFR 250.1490 - What standards must my BOEM-specified surety instrument meet?

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§ 250.1490 What standards must my BOEM-specified surety instrument meet?
(a) A BOEM-specified surety instrument must be in a form specified in BOEM instructions. BSEE will give you written information and standard forms for BOEM-specified surety instrument requirements.
(b) BOEM will use a bank-rating service to determine whether a financial institution has an acceptable rating to provide a surety instrument adequate to indemnify the lessor from loss or damage.
(1) Administrative appeal bonds must be issued by a qualified surety company which the Department of the Treasury has approved.
(2) Irrevocable letters of credit or certificates of deposit must be from a financial institution acceptable to BOEM with a minimum 1-year period of coverage subject to automatic renewal up to 5 years.

Title 30 published on 2014-07-01

no entries appear in the Federal Register after this date.

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United States Code
U.S. Code: Title 30 - MINERAL LANDS AND MINING
U.S. Code: Title 31 - MONEY AND FINANCE
U.S. Code: Title 43 - PUBLIC LANDS