N.M. Code R. § 19.8.14.1408 – Surety Bonds

A. A surety bond shall be executed by the operator and a corporate surety licensed to do business in the state.
B. Surety bonds shall be noncancellable during their terms, except that surety bond coverage for lands not disturbed may be canceled with the prior consent of the director. The director shall advise the surety, within 30 days after receipt of a notice to cancel bond, whether the bond may be canceled on an undisturbed area.
[11-29-97; 19.8.14.1408 NMAC - Rn, 19 NMAC 8.2.14.1408, 9-29-2000]