N.M. Code R. § 19.8.14.1411 – Replacement of Bonds

A. The director may allow a permittee to replace existing bonds with other bonds that provide equivalent coverage.
B. The director shall not release existing performance bonds until the permittee has submitted, and the director has approved, acceptable replacement performance bonds. Replacement of a performance bond pursuant to this section shall not constitute a release of bond under 19.8.14.1412 NMAC.
[11-29-97; 19.8.14.1411 NMAC - Rn, 19 NMAC 8.2.14.1411, 9-29-2000; A, 12-31-2007]