Code of Federal Regulations · Section
§ 1243.100 — What Standards Must My Onrr-specified Surety Instrument Meet?
30 C.F.R. § 1243.100
(a) An ONRR-specified surety instrument must be in a form specified in ONRR instructions. ONRR will give you written information and standard forms for ONRR-specified surety instrument requirements.
(b) ONRR will use a bank-rating service to determine whether a financial institution has an acceptable rating to provide a surety instrument adequate to indemnify the lessor from loss or damage.
(1) Administrative appeal bonds must be issued by a qualified surety company which the Department of the Treasury has approved.
(2) Irrevocable letters of credit or certificates of deposit must be from a financial institution acceptable to ONRR with a minimum 1-year period of coverage subject to automatic renewal up to 5 years.
Authorizing Statute
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Departmental regulations5 U.S.C. § 301
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Definitions43 U.S.C. § 1301
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Leases of allotted lands for mining purposes25 U.S.C. § 396
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Fees and charges for Government services and things of value31 U.S.C. § 9701