Arkansas Financial Assurance Bond

In the state of Arkansas, a new law was enacted relating to financial assurance. The new law, which is titled HB 1424, demands financial assurance for the shutting down and restoration of sites in the state where fluids produced or used throughout examination or production phases of oil or gas processes are stocked or disposed of using land application. Various financial instruments other than surety bonds will also be permitted for such intentions. HB 1424 became active upon enactment.