- (a) BLM does not cancel or terminate bonds. We may inform you that your existing bond is insufficient.
- (b) The bond provider may terminate your bond provided it gives you and BLM 30-days notice. The bond provider remains responsible for obligations that accrued during the period of liability while the bond was in effect.
(c) BLM will release a bond, terminating all liability under that bond, if:
- (1) The new bond that you file covers all existing liabilities and we accept it; or
- (2) After a reasonable period of time, we determine that you paid all royalties, rents, penalties, and assessments, and satisfied all permit and lease obligations.
- (d) If an adequate bond is not in place, do not conduct any operations until you provide a new bond that meets our requirements.