2005 Missouri Revised Statutes - § 444.830. — Phase I reclamation bond to be filed, when--adjustment of amount of bond and terms, by commission, when.

444.830. 1. After a surface coal mining and reclamation permit application has been approved, but before such a permit is issued, the applicant shall file with the commission, on a form prescribed and furnished by the commission, a phase I reclamation bond pursuant to section 444.950 for performance payable to the state, and conditional upon the faithful performance of all the requirements of this law and rules and regulations, and the permit and reclamation plan. 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 regulatory authority an additional phase I reclamation bond or bonds to cover such increments in accordance with this section. The amount of the phase I reclamation bond and coal mine land reclamation fund shall be sufficient to assure the completion of the reclamation plan if the work had to be performed by the commission in the event of forfeiture, and in no case shall the bond for the entire area under one permit be less than ten thousand dollars.

2. Liability under the bond shall be for the duration of the surface coal mining and reclamation operation and for a period coincident with operator's responsibility for revegetation requirements in section 444.855. The bond shall be executed by the operator and a corporate surety licensed to do business in the state, except that the operator may elect to deposit cash, irrevocable letters of credit, negotiable bonds of the United States government or of the state of Missouri, or negotiable certificates of deposit of any bank organized or transacting business in the United States. The cash deposit or market value of such securities shall be equal to or greater than the amount of the bond required for the bonded area.

3. The commission may accept the bond of the applicant himself without the separate surety provided for in subsection 2 of this section when the applicant demonstrates to the satisfaction of the commission 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 such amount or, in lieu of the establishment of a bonding program as set forth in this section, the commission may adopt an alternative system that will achieve the objectives and purposes of the bonding program pursuant to this section, and which is consistent with or pursuant to the purposes of P.L. 95-87, the Surface Mining Control and Reclamation Act.

4. The amount of the bond and the terms of each acceptance of the applicant's bond shall be adjusted by the commission from time to time as affected land acreages are increased or decreased or where the cost of future reclamation changes.

(L. 1979 H.B. 459, A.L. 1982 S.B. 737, A.L. 1988 H.B. 1836, A.L. 1993 H.B. 312 & 257)