Sec. 3. Amendment to Mineral Leasing Act
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/bill/117/hr/2415/rh/section-3·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 17(g) of the Mineral Leasing Act ( 30 U.S.C. 226(g) ) is amended by inserting The Secretary concerned shall review the adequacy of each such bond, surety, or other financial arrangement anytime a lease issued under this section is transferred. Each such bond, surety, or other financial arrangement shall be considered inadequate if such bond, surety, or other financial arrangement is for less than $150,000 in the case of an arrangement for an individual surface-disturbing activity of each entity on an individual oil or gas lease in a State, or $500,000 in the case of an arrangement for all surface-disturbing activities of each entity on all oil and gas leases in a State. after on the lease. .
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Sec. 3
Amendment to Mineral Leasing Act
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