§3809.581. Will BLM accept a replacement financial instrument?
43 C.F.R. § 3809.581
Yes, if you or a new operator have an approved financial guarantee, you may request BLM to accept a replacement financial instrument at any time after the approval of an initial instrument. BLM will review the offered instrument for adequacy and may reject any offered instrument, but will do so by a decision in writing, with a complete explanation of the reasons for the rejection, within 30 calendar days of the offering.
A surety is not released from an obligation that accrued while the surety bond was in effect unless the replacement financial guarantee covers such obligations to BLM's satisfaction.
Notes, amendments, and revision history
Authority
Authority: 16 U.S.C. 1280; 30 U.S.C. 22; 30 U.S.C. 612; 43 U.S.C. 1201; and 43 U.S.C. 1732, 1733, 1740, 1781, and 1782.
Source
Source: 65 FR 70112, Nov. 21, 2000, unless otherwise noted.
Authority
Authority: 16 U.S.C. 3101 et seq.; 30 U.S.C. 22-42, 181 et seq., 301-306, 351-359, and 601 et seq.; 31 U.S.C. 9701; 40 U.S.C. 471 et seq.; 42 U.S.C. 6508; 43 U.S.C. 1701 et seq.; and Pub. L. No. 97-35, 95 Stat. 357.
Source
Source: 45 FR 13974, Mar. 3, 1980, unless otherwise noted.