1. (a) The assignor of a permit, oil and gas exploration license, or lease and the assignor's surety continue to be responsible for the performance of any obligation under the permit, oil and gas exploration license, or lease until the effective date of the assignment. If the transfer is not approved, their obligation continues as though no transfer had been filed for approval.
2. (b) After the effective date of the transfer, the assignee and the assignee's surety are responsible for the performance of all permit, oil and gas exploration license, or lease obligations notwithstanding any terms in the transfer to the contrary.

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

Authority: AS 38.05.020, AS 38.05.132, AS 38.05.145, AS 38.05.131, AS 38.05.133, AS 38.05.920