§1425 Relinquishment, Surrender, and Transfer of Licenses and Permits

Summary

A person who holds a license or permit can, at any time and without penalty, give the license or permit back to the Administrator or give up all or part of the right to do exploration or commercial recovery allowed by it. Giving it up does not free the holder from responsibility for any violations, penalties, or harm to people or property caused by activities done under that license or permit. The Administrator may transfer a license or permit if the holder asks in writing. The transfer can only happen if the person who would take over is a United States citizen and the Administrator finds the transfer is in the public interest and that the new holder and the activities they plan meet the chapter’s requirements and regulations.