30 CFR § 550.1497 - When will BOEM monitor my financial solvency?

---
identifier: "/us/cfr/t30/s550.1497"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "30 CFR § 550.1497 - When will BOEM monitor my financial solvency?"
title_number: 30
title_name: "Mineral Resources"
section_number: "550.1497"
section_name: "When will BOEM monitor my financial solvency?"
chapter_name: "BUREAU OF OCEAN ENERGY MANAGEMENT, DEPARTMENT OF THE INTERIOR"
subchapter_number: "B"
subchapter_name: "OFFSHORE"
part_number: "550"
part_name: "OIL AND GAS AND SULFUR OPERATIONS IN THE OUTER CONTINENTAL SHELF"
positive_law: false
currency: "2026-04-05"
last_updated: "2026-04-05"
format_version: "1.1.0"
generator: "[email protected]"
authority: "30 U.S.C. 1751; 31 U.S.C. 9701; 43 U.S.C. 1334."
regulatory_source: "76 FR 64623, Oct. 18, 2011, unless otherwise noted."
cfr_part: "550"
---


# 550.1497 When will BOEM monitor my financial solvency?

(a) If you are presumptively financially solvent under § 550.1496(b), BOEM will determine your net worth as described under §§ 550.1496(b) and (c) to evaluate your financial solvency at least annually on the date we first determined that you demonstrated financial solvency as long as you have active appeals and each time you appeal a new order.

(b) If you ask us to consult a business-information or credit-reporting service or program under § 550.1496(c), we will consult a service or program annually as long as you have active appeals and each time you appeal a new order.

(c) If our bond-approving officer determines that you are no longer financially solvent, you must post a bond or other BOEM-specified surety instrument under §§ 550.1490 and 550.1491.