Tex. Natural Resources Code § 89.027
This is the official text of Tex. Natural Resources Code § 89.027, part of Texas’s Natural Resources Code — governs land, minerals, and natural resource management.
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§ 89.027. SUPPLEMENTAL FINANCIAL ASSURANCE.
Official statutory text
(a) A supplemental bond, letter of credit, or cash deposit filed under Section 89.023(a)(3)(E) is in addition to any other financial assurance otherwise required of the operator or for the well.
(b) A supplemental bond, letter of credit, or cash deposit may not be transferred to a new operator of an existing inactive well. A new operator of an existing inactive well must file a new supplemental bond, letter of credit, or cash deposit or otherwise comply with the requirements of this subchapter by the deadline provided by Section 89.022(b).
(b) A supplemental bond, letter of credit, or cash deposit may not be transferred to a new operator of an existing inactive well. A new operator of an existing inactive well must file a new supplemental bond, letter of credit, or cash deposit or otherwise comply with the requirements of this subchapter by the deadline provided by Section 89.022(b).
Status: in_force · Read it on the official government site
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