---
kind: "section"
citation: "30 C.F.R. § 550.1497"
title: "30"
number: "550.1497"
heading: "When will BOEM monitor my financial solvency?"
url: "https://uscodex.org/cfr/30/550.1497"
---

# §550.1497. When will BOEM monitor my financial solvency?

- (a) If you are presumptively financially solvent under [§ 550.1496(b)](/cfr/30/550.1496.md?p=b), BOEM will determine your net worth as described under §§ [550.1496(b)](/cfr/30/550.1496.md?p=b) and [(c)](/cfr/30/550.1496.md?p=c) to evaluate your financial solvency at least annually on the date we first determined that you demonstrated financial solvency as long as you have active appeals and each time you appeal a new order.
- (b) If you ask us to consult a business-information or credit-reporting service or program under [§ 550.1496(c)](/cfr/30/550.1496.md?p=c), we will consult a service or program annually as long as you have active appeals and each time you appeal a new order.
- (c) If our bond-approving officer determines that you are no longer financially solvent, you must post a bond or other BOEM-specified surety instrument under §§ [550.1490](/cfr/30/550.1490.md) and [550.1491](/cfr/30/550.1491.md).

## Notes

### Authority

Authority: 30 U.S.C. 1751; 31 U.S.C. 9701; 43 U.S.C. 1334.

### Source

Source: 76 FR 64623, Oct. 18, 2011, unless otherwise noted.