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350.715 Pool administrator.
(1)
(2)
The secretary of the cabinet shall appoint a cabinet employee to serve as bond pool
administrator.
The bond pool administrator shall:
(a) Collect and deposit into the bond pool fund all membership fees and tonnage
fees submitted by bond pool members;
(b) Assess penalties against members for late payment of tonnage fees;
(c) Compile information about applicants and members for use by the
commission in assigning or revising ratings;
(d) Monitor members' reporting and payment of tonnage fees and compliance
with laws and administrative regulations of the cabinet and, where
appropriate, recommend to the commission that it downgrade a member's
rating or revoke a person's membership;
(e) Pay moneys out of the bond pool fund as authorized by the bond pool
commission;
(f) At each meeting, report to the commission concerning the status of the bond
pool and activities of the bond pool administrator;
(g) Perform such other administrative functions as are necessary to carry out the
purposes of KRS 350.700 to 350.755; and
(h) Account for the amount of coverage provided for properties in the Abandoned
Mine Land Enhancement Program under KRS 350.595.
Effective: July 15, 1988
History: Amended 1988 Ky. Acts ch. 397, sec. 5, effective July 15, 1988. -- Created
1986 Ky. Acts ch. 137, sec. 4, effective July 15, 1986.
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