25 U.S.C. § 396c : US Code - Section 396C: Lessees of restricted lands to furnish bonds for performance

Search 25 U.S.C. § 396c : US Code - Section 396C: Lessees of restricted lands to furnish bonds for performance

On and after May 11, 1938, lessees of restricted Indian lands,
tribal or allotted, for mining purposes, including oil and gas,
shall furnish corporate surety bonds, in amounts satisfactory to
the Secretary of the Interior, guaranteeing compliance with the
terms of their leases: Provided, That personal surety bonds may be
accepted where the sureties deposit as collateral with the said
Secretary of the Interior any public-debt obligations of the United
States guaranteed as to principal and interest by the United States
equal to the full amount of such bonds, or other collateral
satisfactory to the Secretary of the Interior, or show ownership to
unencumbered real estate of a value equal to twice the amount of
the bonds.