[Code of Federal Regulations]
[Title 33, Volume 2]
[Revised as of July 1, 2003]
From the U.S. Government Printing Office via GPO Access
[CITE: 33CFR135.211]

[Page 64]
 
                TITLE 33--NAVIGATION AND NAVIGABLE WATERS
 
   CHAPTER I--COAST GUARD, DEPARTMENT OF HOMELAND SECURITY (CONTINUED)
 
PART 135--OFFSHORE OIL POLLUTION COMPENSATION FUND--Table of Contents
 
       Subpart C--Financial Responsibility for Offshore Facilities
 
Sec. 135.211  Surety bond as evidence.

    (a) Each surety bond filed with the Fund Administrator as evidence 
of financial responsibility shall be issued by a bonding company that:
    (1) Is authorized to do business in the United States;
    (2) Is licensed to do business in the state or territory in which 
the bond is executed;
    (3) Is certified by the Department of the Treasury with respect to 
the issuance of Federal bonds in the penal sum of the bond; and
    (4) Designates an agent in the United States for service of process.
    (b) The bonding company must agree to be sued directly, within the 
limits of the surety bond, by any person for claims under the Act 
against the owner or operator.
    (c) A surety bond as evidence of financial responsibility must 
indicate the effective date in the endorsement on the application for 
Certificate of Financial Responsibility, and must remain in force until 
the date of termination indicated in the endorsement or until:
    (1) 30 days after mailing, by certified mail, to the Fund 
Administrator, and the person bonded, notification of intent to cancel; 
or
    (2) Other evidence of financial responsibility acceptable to the 
Fund Administrator has been established; or
    (3) The facility to which the surety bond applies ceases to be a 
facility under Sec. 135.201(b).
    (d) Termination of the surety bond shall not affect the liability of 
the surety for an incident occurring before the effective date of 
termination.

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