§ 8-4-104 — Funds available to pay wages - mining industry

Every person,
firm, association, corporation, or agent, manager, superintendent, or officer thereof
engaged in the business of extracting or of extracting and refining or reducing
metals or minerals other than petroleum, or other than parties having a free
unencumbered title to the fee simple of the property being worked, and also other
than mining partnerships in respect to the members of the partnerships, shall,
before commencing work in any period for which a single payment of wages is to be
made, have on hand, either physically or by deposit with a bank or trust company in
the county where such property is located or, if there is no bank or trust company in
the county, in the bank or trust company nearest the property, cash or readily
salable securities of a market value equivalent to such cash, or accounts receivable
payable in the normal course of business prior to the next payday, in a sufficient
amount to make the payment of wages without discount or loss to any person
employed on the mining property for such period.

Legislative History

Source: L. 2003: Entire article amended with relocations, p. 1854, � 1, effective August 6.