The National Association of Surety Bond Producers (NASBP)1 and The Surety & Fidelity Association of America (SFAA)2 appreciate the opportunity to submit additional comments in connection with the Colorado Oil & Gas Conservation Commission (COGCC) ongoing Financial Assurance Rulemaking to address the COGCC Staff December 7, 2021,Draft Financial Assurance Rulemaking (Draft Rules). Previously, we submitted comments regarding the June 15, 2021, Strawdog Rules (Strawdog Rules). In those comments, we outlined our concerns regarding the proposed definitions of surety bond and surety company, the expanded liability placed on sureties, and the resulting financial impact on small and medium sized operators.
Topic
Accounting, Finance and Tax, Advocacy
Publish Date
January 14, 2022
Region
Colorado, States
Audience
Contractors, CPAs, Owners
Resource Type
Comment Letter, Resource Map
Supporters Request H.R. 1285, the Water Infrastructure Subcontractor & Taxpayer Protection Act, Receive Markup Which Is Pending Before the Transportation & Infrastructure Committee