Statutes, codes, and regulations
Wyoming Administrative Code
Agency 060 - Lands and Investments, Office ofSubagency 0002 - Land Commissioners, Board of
Chapter 5 - SPECIAL USE LEASING
Section 5-14 - Bonding Provisions

060-5 Wyo. Code R. § 5-14

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Current through April 27, 2019
Section 5-14 - Bonding Provisions

(a) The Board may require a bond as a condition of a special use lease sufficient to assure compliance with all terms and conditions of the lease. All bonds posted on special use leases may be used by the Board for payment for costs of reclamation and for compliance with all other terms and conditions of the lease and rules pertaining to the lease.

(b) The bond shall be in effect even if the board subsequently approves an assignment of the lease pursuant to Chapter 5, Section 8, of these rules.

(c) Additional bonding to cover risks not anticipated at the time of the original lease may be required at any time by the Director, provided the Director first gives the lessee 30 days written notice stating the reason and amount of the bond. The bond will remain in place until the unanticipated risk is diminished.

(d) Bonds may be accepted in any of the following forms at the discretion of the Director:

  • (i) Surety bond with a corporate surety registered in Wyoming.
  • (ii) Certificate of deposit in the name of the "Board of Land Commissioners", with a state or federally insured financial institution in Wyoming. The lessee shall be entitled to all interest payments.
  • (iii) Other forms of surety as may be acceptable to the Director.

(e) The Director shall prepare an informational board matter pursuant to Chapter 1 whenever additional bonding has been required under (c) in this section.

060-5 Wyo. Code R. § 5-14