25 U.S.C. § 396c — Lessees of restricted lands to furnish bonds for performance

FEDERAL · 25 U.S.C. · Chapter 12

Lessees of restricted lands to furnish bonds for performance

25 U.S.C. § 396c

Chapter12 — LEASE, SALE, OR SURRENDER OF ALLOTTED OR UNALLOTTED LANDS

This text of 25 U.S.C. § 396c (Lessees of restricted lands to furnish bonds for performance) is published on Counsel Stack Legal Research, covering United States primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

25 U.S.C. § 396c.

Text

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.

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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.

Source Credit

History

(May 11, 1938, ch. 198, §3, 52 Stat. 348.)

Editorial Notes

Statutory Notes and Related Subsidiaries

Repeal of Inconsistent Acts
For repeal of inconsistent acts, see section 7 of act May 11, 1938, set out as a note under section 396a of this title.

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Bluebook (online)

25 U.S.C. § 396c, Counsel Stack Legal Research, https://law.counselstack.com/usc/25/396c.