You may provide a State-approved financial guarantee in any of the following forms, subject to the conditions in §§ 3809.570 and 3809.574:

1. (a) The kinds of individual financial guarantees specified under § 3809.555;

2. (b) Participation in a State bond pool, if—

   1. (1) The State agrees that, upon BLM's request, the State will use part of the pool to meet reclamation obligations on public lands; and
   2. (2) The BLM State Director determines that the State bond pool provides the equivalent level of protection as that required by this subpart; or
3. (c) A corporate guarantee that existed on January 20, 2001, subject to the restrictions on corporate guarantees in § 3809.574.