§ 396c. Lessees of restricted lands to furnish bonds for performance

Legislative history

Reconstructed from this section’s Code source credit and amendment notes, resolved against the local Statutes at Large. Editorial notes are evidence, not the law that made the change.

1. 1938

   Pub. L. 75–198 § 3 · 52 Stat. 347

   Enacted · 25 U.S.C. § 396c

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

   Source evidence

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

   Enacted provision · exact public law section
   Sec. 3. That hereafter 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 Proviso. Acceptance of personal surety bonds. 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.

1 of 1 references resolved to an enrolled provision