Under what circumstances may I provide a State-approved financial guarantee?

When you provide evidence of an existing financial guarantee under State law or regulations that covers your operations, you are not required to provide a separate financial guarantee under this subpart if— (a) The existing financial guarantee is redeemable by the Secretary, acting by and through BLM; (b) It is held or approved by a State agency for the same operations covered by your notice(s) or plan(s) of operations; and (c) It provides at least the same amount of financial guarantee as required by this subpart.