SECTION 460:30-4-7. Determination of bond amount

Latest version.

(a)   The amount of the bond required for each bonded area shall:
(1)   Be determined by the Department;
(2)   Depend upon the requirements of the approved permit and reclamation plan;
(3)   Reflect the probable difficulty of reclamation, giving consideration to such factors as topography, geology, hydrology, and revegetation potential; and
(4)   Be based on, but not limited to, the estimated cost submitted by the permit applicant.
(b)   The amount of the bond shall be sufficient to assure the completion of the reclamation plan if the work has to be performed by the Department in the event of forfeiture, and in no case shall the total bond initially posted for the entire area under one permit be less than 10,000.00 thousand dollars.

[Source: Added at 28 Ok Reg 2371, eff 9-11-11]

                    
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