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350.064 Reclamation bond to be filed by applicant.
(1)
(2)
After a surface coal mining and reclamation permit application has been
approved but before the permit is issued, the applicant shall file with the
regulatory authority, on a form prescribed and furnished by the regulatory
authority, a reclamation bond for performance payable, as appropriate, to the
state, and conditional upon faithful performance of all the requirements of this
chapter and the permit. The reclamation bond shall cover that area of land
within the permit area upon which the applicant will initiate and conduct surface
coal mining and reclamation operations within the initial term of the permit. As
succeeding increments of surface coal mining and reclamation operations are
to be initiated and conducted within the permit area, the permittee shall file with
the cabinet an additional bond or bonds to cover the increments in accordance
with this section.
The cabinet may accept the reclamation bond of the applicant itself without
separate surety when the applicant demonstrates to the satisfaction of the
cabinet the existence of a suitable agent to receive service of process and a
history of financial solvency and continuous operation sufficient for
authorization to self-insure or bond the amount or in lieu of the establishment of
a bonding program, as set forth in this section; the cabinet may approve an
alternative system that will achieve the objectives and purposes of the bonding
program pursuant to this section.
Effective:July 14, 1992
History: Amended 1992 Ky. Acts ch. 429, sec. 7, effective July 14, 1992. -Amended 1988 Ky. Acts ch. 417, sec. 2, effective July 15, 1988. -- Created 1980
Ky. Acts ch. 209, sec. 4.
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