N.M. Code R. § 19.10.12.1209 – Replacement of Financial Assurance

A. The director may allow a permittee to replace existing financial assurance with other approved financial assurance mechanisms that provide equivalent coverage.
B. The director shall not release existing financial assurance until the permittee has submitted, and the director has approved, acceptable replacement financial assurance. Replacement of financial assurance pursuant to 19.10.12.1209 NMAC shall not constitute a release of the financial assurance under 19.10.12.1210 NMAC.
[7-12-94, 2-15-96; 19.10.12.1209 NMAC - Rn, 19 NMAC 10.2.12.1209, 05-15-2001]