§ 1212.50. Required recordkeeping and reports.
81 words·~1 min read·
/us/cfr/t30/s§ 1212.50·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
All records pertaining to offshore and onshore Federal and Indian oil and gas leases shall be maintained by a lessee, operator, revenue payor, or other person for 6 years after the records are generated unless the recordholder is notified, in writing, that records must be maintained for a longer period. When an audit or investigation is underway, records shall be maintained until the recordholder is released by written notice of the obligation to maintain records. \[49 FR 37345, Sept. 21, 1984\]