- (1) The State Regulatory Authority shall prescribe and furnish forms for filing performance bonds.
- (2) The State Regulatory Authority shall prescribe terms and conditions for performance bonds and insurance by regulations which meet, at a minimum, the requirements of Rules 880-X-9B - 880-X-9C.
- (3) The State Regulatory Authority shall determine the amount of the performance bond required for the permit area, including adjustments to the initial amount from time-to-time as land acreages in the permit area are revised, or when other relevant conditions change according to the minimum requirements of Rule 880-X-9B-.02(1).
- (4) The State Regulatory Authority may accept a self-bond in lieu of surety or collateral bond, if the permittee meets the requirements of Rule 880-X-9C-.03(7).
- (5) The State Regulatory Authority shall cause all or part of a bond to be forfeited consistent with Rule 880-X-9E.
- (6) The State Regulatory Authority shall release liability under bonds in accordance with Rule 880-X-9D.
- (7) The State Regulatory Authority shall require in the permit that adequate bond coverage be in effect at all times. Operating without a bond is a violation of a condition upon which the permit is issued.
Statutory Authority: Code of Ala. 1975, §§9-16-71, 73, 74, 75, 80, 81, 82, 83, 85, 89.