(a) BLM does not cancel or terminate bonds. We may inform you that your existing bond is insufficient.
(b) The bond provider may terminate your bond provided it gives you and BLM 30-days notice. The bond provider remains responsible for obligations that accrued during the period of liability while the bond was in effect.
(c) BLM will release a bond, terminating all liability under that bond, if:
(1) The new bond that you file covers all existing liabilities and we accept it; or
(2) After a reasonable period of time, we determine that you paid all royalties, rents, penalties, and assessments, and satisfied all permit and lease obligations.
(d) If an adequate bond is not in place, do not conduct any operations until you provide a new bond that meets our requirements.
Title 43 published on 2011-10-01
no entries appear in the Federal Register after this date.
This is a list of United States Code sections, Statutes at Large, Public Laws, and Presidential Documents, which provide rulemaking authority for this CFR Part.