Arizona § 27-570 - Bond and penalties; waiver
Full text of Arizona Arizona Revised Statutes § 27-570 — Bond and penalties; waiver, with citation guidance and answers to common questions.
§ 27-570. Bond and penalties; waiver
A. If the department requires a bond to guarantee performance by the buyer, the amount shall be based on the average price of royalty oil sold in this state during the preceding month. If no royalty oil was sold in this state during the preceding month, the amount of the bond shall be established by the commissioner based upon the prevailing market price for refinery charge stocks of similar composition sold in Arizona or in a surrounding state or states, or upon the national average sales price for such refinery charge stocks, whichever is greater.
B. The department may execute on the bond for all unpaid department costs and losses.
C. The department may waive the requirement for a bond on assurances made by the applicant satisfactory to the department.
Source: official Arizona text · Last verified 2026-08-27
Frequently Asked Questions About Arizona § 27-570
What does Arizona Revised Statutes § 27-570 cover?
Section 27-570 ("Bond and penalties; waiver") is part of the Arizona Revised Statutes, the codified statutory law of Arizona. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Arizona § 27-570?
A common citation format is "Arizona Revised Statutes § 27-570" (Arizona). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Arizona law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Arizona official source linked on this page or consult a licensed Arizona attorney.
How does Arizona § 27-570 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Arizona can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Arizona.