1. LawStack
  2. Title 30 - Mineral Resources
  3. Chapter V - BUREAU OF OCEAN ENERGY MANAGEMENT, DEPARTMENT OF THE INTERIOR
  4. Subchapter B - OFFSHORE
  5. Part 585 - RENEWABLE ENERGY AND ALTERNATE USES OF EXISTING FACILITIES ON THE OUTER CONTINENTAL SHELF
  6. Subpart E - Payments and Financial Assurance Requirements
  7. Topic - Changes in Financial Assurance
  8. 30 CFR § 585.531
30 CFR § 585.531
What happens if the value of my financial assurance is reduced?
July 29, 2020
CFR

If the value of your financial assurance is reduced below the required financial assurance amount because of a default or any other reason, you must provide additional financial assurance sufficient to meet the requirements of this subpart within 45 days or within a different period as specified by BOEM.

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§ 585.530 What must I do if my financial assurance lapses?
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§ 585.532 What happens if my surety wants to terminate the period of liability of my bond?

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