The commissioner will return the bid deposit of all unsuccessful bidders within five working days after a lease sale or the awarding of an oil and gas exploration license. If the high bid is disqualified after bid deposits have been returned, the commissioner will, in the commissioner's discretion, award the second and third highest bidders the opportunity to restore their bids and deposits within 10 days after receipt of the notice of the award.

(Eff. 9/5/74, Register 51; am 7/22/79, Register 71; am 9/22/95, Register 135)

Authority: AS 38.05.020, AS 38.05.131, AS 38.05.133, AS 38.05.145