Arizona § 27-273 - Performance and reclamation bonds
Full text of Arizona Arizona Revised Statutes § 27-273 — Performance and reclamation bonds, with citation guidance and answers to common questions.
§ 27-273. Performance and reclamation bonds
A. The commissioner may require the lessee to post a cash deposit, a certificate of deposit, a surety bond or any other form of financial assurance acceptable to the commissioner to guarantee the payment of all monies due under the lease as royalty to the state.
B. The commissioner shall require the lessee to furnish a cash deposit, a certificate of deposit, a surety bond or any other form of financial assurance acceptable to the commissioner, in a reasonable amount to be fixed by the commissioner, conditioned that the lessee will guarantee reclamation of the surface of the land described in the lease to a reasonable condition in accordance with good mining practices.
C. The commissioner shall also require the lessee to file with the department a cash deposit, a certificate of deposit, a surety bond or any other form of financial assurance acceptable to the commissioner, conditioned upon prompt payment to the owner or lessee of the surface of the state land covered by the lease, or across which the lessee exercises the right of ingress, for any loss to such owner or lessee from damage or destruction caused by the lessee or the lessee's agents or employees to grasses, forage, crops and improvements upon such lands.
D. On default, the commissioner may use the proceeds of the cash deposit, certificate of deposit, surety bond or other financial assurance for the purposes described in subsection A, B or C.
Frequently Asked Questions About Arizona § 27-273
What does Arizona Revised Statutes § 27-273 cover?
Section 27-273 ("Performance and reclamation bonds") 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 § 27-273?
A common citation format is "Arizona Revised Statutes § 27-273" (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 § 27-273 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.