Definition(s)
Financial Assurance
FINANCIAL ASSURANCE shall mean a surety bond, cash collateral, certificate of deposit, letter of credit, sinking fund, escrow account, lien on property, security interest, guarantee, or other instrument or method in favor of and acceptable to the Commission. With regard to third party liability concerns related to public health, safety and welfare, the term encompasses general liability insurance.
Source: Oil and Gas Conservation Commission, Practice and Procedure, Code of Colorado Regulations, 2 CCR 404-1, February 2013. Regulations