---
kind: "section"
citation: "30 C.F.R. § 585.531"
title: "30"
number: "585.531"
heading: "What happens if the value of my financial assurance is reduced?"
url: "https://uscodex.org/cfr/30/585.531"
---

# §585.531. What happens if the value of my financial assurance is reduced?


If the value of your financial assurance is reduced below the required financial assurance amount because of a default or any other reason, you must provide additional financial assurance sufficient to meet the requirements of this subpart within 45 days or within a different period as specified by BOEM.


## Notes

### Source

Source: 89 FR 42740, May 15, 2024, unless otherwise noted.

### Authority

Authority: 43 U.S.C. 1337.

### Source

Source: 88 FR 6430, Jan. 31, 2023, unless otherwise noted.