§3136.3. Cancellation of leases. — Inbound Citations
43 C.F.R. § 3136.3
Statutory Authority
Cited by 1 regulation in release Current.
Citations to 43 C.F.R. § 3136.3 as a whole
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(d) A new bond in the amount previously held or a larger amount as determined by the authorized officer shall be posted within 6 months or such shorter period as the authorized officer may direct after a default. In lieu thereof, separate or substitute bonds for each lease covered by the prior bond may be filed. The authorized officer may cancel a lease(s) covered by a deficient bond(s), in accordance with § 3136.3 of this title. Where a bond is furnished by an operator, suit may be brought thereon without joining the lessee when such lessee is not a party to the bond.