§ 14-34-7-9 — Change in financial condition

Indiana § 14-34-7-9

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

Text

(a) If at any time during the period when a
self-bond is posted, the financial conditions of the applicant or the
corporate guarantor change so that the criteria of sections 4(d)(7), 4(f),
and 6 of this chapter are no longer satisfied, the permittee shall do the
following:
(1) Notify the director immediately.
(2) Within ninety (90) days of the change in financial condition
post an alternate form of bond in the same amount as the
self-bond.
(b) If the applicant does not post an alternate form of bond within
ninety (90) days of the change in financial condition, the applicant
must cease coal extraction and immediately begin reclamation.
[Pre-1995 Recodification Citation: 13-4.1-6.3-13.]

Legislative History

As added by P.L.1-1995, SEC.27. Amended by P.L.176-1995, SEC.19.