§3602.24. When may I assign my materials sales contract?

43 C.F.R. § 3602.24

(a)

You may not assign the contract or any interest therein unless BLM approves the transfer in writing.

(b)

BLM will not approve your proposed assignment of contract, unless—

(1)

Your assignee—

(i)

Furnishes a financial guarantee as required by § 3602.14; or

(ii)

Obtains a written commitment from the previous surety that it will be bound by the assignment when BLM approves it; and

(2)

The assignment contains all the terms and conditions in your contract.

Notes, amendments, and revision history

Authority: 30 U.S.C. 601 et seq.; 43 U.S.C. 1201, 1701 et seq.; Sec. 2, Act of September 28, 1962 (Pub. L. 87-713, 76 Stat. 652).

Source: 66 FR 58901, Nov. 23, 2001, unless otherwise noted.