30 U.S.C. § 1716 — Liabilities and bonding

FEDERAL · 30 U.S.C. · Chapter 29

Liabilities and bonding

Current through Pub. L. 119-102

Title 30 — Mineral Lands and Mining·Ch. 29 — OIL AND GAS ROYALTY MANAGEMENT·Subch. I

A person (including any agent or employee of the United States and any independent contractor) authorized to collect, receive, account for, or otherwise handle any moneys payable to, or received by, the Department of the Interior which are derived from the sale, lease, or other disposal of any oil or gas shall be—

(1)liable to the United States for any losses caused by any intentional or reckless action or inaction of such individual with respect to such moneys; and

(2)in the case of an independent contractor, required as the Secretary deems necessary to maintain a bond commensurate with the amount of money for which such individual could be liable to the United States.

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A person (including any agent or employee of the United States and any independent contractor) authorized to collect, receive, account for, or otherwise handle any moneys payable to, or received by, the Department of the Interior which are derived from the sale, lease, or other disposal of any oil or gas shall be—
(1) liable to the United States for any losses caused by any intentional or reckless action or inaction of such individual with respect to such moneys; and
(2) in the case of an independent contractor, required as the Secretary deems necessary to maintain a bond commensurate with the amount of money for which such individual could be liable to the United States.

30 U.S.C. § 1716 (Liabilities and bonding) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Source Credit

History

(Pub. L. 97–451, title I, §106, Jan. 12, 1983, 96 Stat. 2452.)

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Source Credit

History