350.750 Revocation of membership in bond pool.
(1) Whenever a member of the bond pool becomes more than thirty (30) days in arrears
with any tonnage fee payment, the bond pool administrator shall notify the member <br>that he has thirty (30) days to become current on his payments. If the member fails <br>to comply within the thirty (30) days, the bond pool administrator shall recommend <br>to the commission that it revoke his membership. The commission shall revoke the <br>membership unless the member has paid all tonnage fees due.
(2) Whenever a member of the bond pool is issued an order for cessation and
immediate compliance for failure to abate a violation of contemporaneous <br>reclamation requirements, the bond pool administrator shall so inform the <br>commission, which may revoke the membership in the bond pool. Whenever two <br>(2) such orders are issued to a member of the bond pool, that membership shall be <br>automatically revoked without further action on the part of the commission. <br>Whenever the secretary has issued a final order finding that a member of the bond <br>pool has committed a pattern of violations pursuant to KRS 350.028(4) or <br>350.465(3)(f), the bond pool administrator shall so inform the commission, and the <br>commission may revoke the member's membership in the bond pool.
(3) Whenever a member of the bond pool is issued an order for cessation and
immediate compliance for failure to abate any violation, the bond pool <br>administrator shall so inform the commission, and the commission may revoke the <br>member's membership in the bond pool.
(4) If a member of the bond pool transfers more than fifty percent (50%) of any class of
stock or other ownership interest, whether by sale, gift, or otherwise, the member <br>and the person to whom more than fifty percent (50%) of the interest is transferred <br>shall notify the bond pool administrator, in writing, of the transfer within fifteen <br>(15) days. The bond pool administrator shall review the eligibility of all persons <br>who own or control, are owned or controlled by, or are under common ownership or <br>control with the member after the transfer using criteria set forth in KRS 350.720, <br>and shall report his findings to the commission. The commission shall revoke the <br>membership if it determines that the member after the transfer does not meet the <br>eligibility criteria.
(5) Upon revocation of membership, the permittee shall be ordered by the cabinet to
cease surface coal mining operations on all of his permits until he has obtained <br>alternate bond coverage. In the meantime, the permittee shall comply with <br>reclamation requirements established by cabinet regulations.
(6) The bond pool fund shall remain liable for reclamation of the portions of permits
disturbed prior to revocation of a membership.
Effective: July 13, 1990 <br>History: Amended 1990 Ky. Acts ch. 389, sec. 5, effective July 13, 1990. -- Amended
1988 Ky. Acts ch. 397, sec. 10, effective July 15, 1988. -- Created 1986 Ky. Acts <br>ch. 137, sec. 11, effective July 15, 1986.
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