350.595 Application for inclusion under Abandoned Mine Land Enhancement
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/ky/350-595A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Program -- Coverage under Kentucky reclamation guaranty fund.
(1)An applicant who desires to remine property which is classified as abandoned mine
land under KRS 350.560 may apply to the Reclamation Guaranty Fund Commission
established in KRS 350.506 for inclusion under the Abandoned Mine Land
Enhancement Program. The commission may provide coverage under the Kentucky
reclamation guaranty fund established pursuant to KRS 350.503 not to exceed fifty
percent (50%) of the bond amount which the cabinet determines under KRS
350.060 is necessary for the abandoned mine land.
(2)When the bond required for the abandoned mine land under KRS 350.060 is
increased or reduced, or is released in whole or in part, the coverage provided by the
bond pool shall be proportionately increased or reduced.
(3)In the event of bond forfeiture on the property, moneys from the Kentucky
reclamation guaranty fund shall be used to supplement the forfeited bond.