[Code of Federal Regulations]
[Title 25, Volume 1]
[Revised as of April 1, 2005]
From the U.S. Government Printing Office via GPO Access
[CITE: 25CFR215]

[Page 689]
 
                            TITLE 25--INDIANS
 
     CHAPTER I--BUREAU OF INDIAN AFFAIRS, DEPARTMENT OF THE INTERIOR
 
PART 215_LEAD AND ZINC MINING OPERATIONS AND LEASES, QUAPAW AGENCY
--Table of Contents
 
Sec.  215.13  Bond.

    Every mineral lease made and entered into under the regulations in 
this part, by an Indian or by the superintendent as his representative 
or in his behalf, must be accompanied by a surety bond, executed by the 
lessee and by a responsible surety company or two or more satisfactory 
sureties, guaranteeing the payment of all deferred installments of bonus 
and the payment of all specified royalties and rentals and the 
performance of all covenants and agreements undertaken by the lessee. 
Such bonds, unless authorized by the Secretary of the Interior or his 
authorized representative, with the consent of the Indian landowner, 
shall be not less than the following amounts:

For less than 80 acres--$2,500
For 80 acres and less than 120 acres--3,500
For 120 acres or more--5,000

    Provided, however, That the lessee may, in lieu of such surety bond 
and upon execution of a proper penal bond to the United States in the 
sum prescribed and a proper power of attorney to the Secretary of the 
Interior, submit therewith United States bonds or notes in the aggregate 
sum prescribed as security for the carrying out of the terms, 
conditions, and provisions of the lease: Provided further, That a lessee 
may file in lieu of such individual lease bonds, one bond in a sum to be 
fixed by the Secretary of the Interior covering all leases to which he 
is or may become a party. The right is specifically reserved to the 
Secretary of the Interior to require an increase of the amount of any 
bond above the sum named in any particular case where he deems it 
necessary to require such increased bond.

[26 FR 164, Jan. 10, 1961. Redesignated at 47 FR 13327, Mar. 30, 1982]