- (a) When a licensee voluntarily surrenders an oil and gas exploration license, the provisions of 11 AAC 82.635 apply.
- (b) Upon the effective date of surrender of the license, a licensee shall forfeit to the state the security required in AS 38.05.132(c)(4)(B).
(Eff. 9/22/95, Register 135)
Authority: AS 38.05.131, AS 38.05.132