27-1291. Financial assurance requirements; form

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A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

A. On or before January 1, 2007, as required by this chapter, owners and operators of exploration operations and aggregate mining units who create surface disturbances shall provide financial assurance mechanisms to the inspector as provided by this article.

B. Allowable financial assurance mechanisms for purposes of this article include any or a combination of the following:

1. Surety bond.

2. Certificate of deposit.

3. Trust fund with pay-in period.

4. Letter of credit.

5. Insurance policy.

6. Certificate of self-insurance.

7. Cash deposit with the state treasurer.

8. Evidence of ability to meet a corporate financial test or corporate guarantees as provided by 40 Code of Federal Regulations section 264.143(f).

9. Annuities.

10. Bonding pools.

11. Additional financial assurance mechanisms that are acceptable to the inspector.