§ 15-72-02 — Powers and duties of the board - Transfer

The board of university and school lands shall set up a coal mine reclamation trust. The coal
mine reclamation trust may receive and accept assets as directed by the public service
commission which are held in the public service commission's custody under North Dakota
Administrative Code section 69-05.2-12-04 as collateral in a security agreement with any person
as defined in section 38-14.1-02. The commissioner of university and school lands shall consult
with the public service commission in carrying out the powers and duties of administering the
coal mine reclamation trust. Any expenses incurred by the board of university and school lands
or the public service commission under this section must be reimbursed by the permit applicant
or qualified third party.