---
kind: "section"
citation: "25 C.F.R. § 141.57"
title: "25"
number: "141.57"
heading: "Procedures to cancel liability on bond."
url: "https://uscodex.org/cfr/25/141.57"
---

# §141.57. Procedures to cancel liability on bond.

- (a) Any surety who wishes to be relieved from liability arising on a bond issued under this part shall file with the Commissioner a statement in writing setting forth the desire of the surety to be relieved of liability and the reasons therefor.
- (b) The surety shall mail a copy of the statement by certified mail, return receipt requested, to the last known address of the licensee named in the bond.
- (c) Twenty (20) days after the statement required in [paragraph (b)](#b) of this section is mailed to the licensee and the statement required in [paragraph (a)](#a) of this section is filed with the Commissioner, the surety from all liability thereafter arising on the bond.
- (d) If the licensee does not have other bond sufficient to meet the requirements of this part or has not executed and filed a new or substitute bond within twenty (20) days after the service of the statement, the Commissioner shall declare the license and lease void.
- (e) No surety is released from liability under the bond for claims which arose prior to the issuance of the Commissioner's order releasing the surety.

## Notes

### Amendments

[40 FR 39837, Aug. 29, 1975, as amended at 41 FR 3288, Jan. 22, 1976; 41 FR 22937, June 8, 1976. Redesignated at 47 FR 13327, Mar. 30, 1982]

### Authority

Authority: 5 U.S.C. 301; 25 U.S.C. 2 and 9; and Sec. 701, Pub. L. 114-74, 129 Stat. 599, unless otherwise noted.

### Source

Source: 40 FR 39835, Aug. 29, 1975, unless otherwise noted. Redesignated at 47 FR 13327, Mar. 30, 1982.

### Amendments

[40 FR 39837, Aug. 29, 1975, as amended at 41 FR 3288, Jan. 22, 1976; 41 FR 22937, June 8, 1976. Redesignated at 47 FR 13327, Mar. 30, 1982]