Alaska Administrative Code
Title 11 - Natural Resources
Part 1 - Office of the Commissioner
Chapter 03 - Disposition of Royalty Oil, Gas, or Gas Liquids
11 AAC 03.130 - Security

The commissioner may require that security, which in his judgment is adequate to ensure performance by a bidder, be submitted either with the bid, with the application for qualification, or at any other time the commissioner considers appropriate. The security may be a bid bond, performance bond, cash deposit, letter of credit or any other form of security prescribed by the commissioner in the invitation to bid. The commissioner will prescribe in the invitation to bid the time of submission of the security, the amount of security, and the terms and conditions of the security.

Authority:AS 38.05.020

AS 38.05.183