11 AAC 86.515. Compliance with permit rental requirement

(a) On or before the second and each subsequent anniversary date of the offshore prospecting permit, the permittee shall pay rental, submit an affidavit of work creditable against the rental, or submit a combination of a partial rental payment and an affidavit of work creditable against rental, in the amount due. The affidavit of work must be filed with the department. The signing of the affidavit constitutes certification that, to the knowledge of the permittee, the work, or that portion of work claimed as an excess from a previous year, has not been previously credited to any rental or work requirement.

(b) The affidavit must be supported by substantiating evidence, as might be required by the commissioner. The affidavit must set out fully

(1) the location of the work performed;

(2) the nature, extent and cost of the work;

(3) the general findings from the work; and

(4) the name, address, and professional background of each person conducting the work.

(c) Failure to timely submit a rental payment or affidavit of work for an offshore prospecting permit is an abandonment under AS 38.05.265 and automatically terminates the offshore prospecting permit without prior notice.

(d) If any rental payment in combination with any work creditable against rental is less than the amount due, the permittee will be granted 30 days after receipt of a notice from the director to submit the additional rental due. If the permittee does not correct the default within the time allowed in the notice, the offshore prospecting permit automatically terminates without further notice.

History: Eff. 9/5/74, Register 51; am 1/1/83, Register 85; am 5/30/85, Register 94

Authority: AS 38.05.020

AS 38.05.035

AS 38.05.250

AS 38.05.265

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