§ 14-34-7-6 — Self-bond or corporate guarantee; percentage of net worth

Indiana § 14-34-7-6

• Jurisdiction: Indiana
• Art. 34: SURFACE COAL MINING AND RECLAMATION
• Ch. 7: Self-Bonding

Text

(a) For the director to accept an applicant's
self-bond, the total amount of the outstanding and proposed self-bonds
of the applicant for surface coal mining and reclamation operations in
the United States may not exceed twenty-five percent (25%) of the
applicant's tangible net worth in the United States.
(b) For the director to accept a corporate guarantee, the total amount
of the corporate guarantor's present and proposed self-bonds and
guaranteed self-bonds for surface coal mining and reclamation
operations in the United States may not exceed twenty-five percent
(25%) of the guarantor's tangible net worth in the United States.
[Pre-1995 Recodification Citation: 13-4.1-6.3-10.]

Legislative History

As added by P.L.1-1995, SEC.27.