N.Y. Comp. Codes R. & Regs. tit. 6, § 423.3 – Release of bond.

(a) When a department determines that the permittee has satisfactorily completed reclamation and has complied with the provisions of the mined land-use plan, the department shall approve the reclamation and shall release the bond except as provided in subdivision (c) of this section. If the department does not approve reclamation, the permittee and the surety will be so notified. Such notification shall be given by certified mail and shall state the reasons for disapproving the reclamation and shall contain suggestions and recommendations for corrective action. Upon satisfactory completion of the corrective action and approval of reclamation, the department shall release the bond as described in this subdivision.
(b) A permittee may request a reduction of the amount of the bond after completion of reclamation on part of the affected land, when reducing the area of affected land or as provided in subdivision (c) of this section. The procedure for obtaining a reduction of the bond amount shall be by application for an alteration or amendment of the permit. The department may reduce the amount of the bond, if satisfied that the permittee has:
1. (1) complied with the provisions of the mined land-use plan; and
  1. (i) completed partial reclamation,
  2. (ii) reduced the area of affected land or
  3. (iii) completed reclamation subject to verification of success as provided in subdivision (c) of this section.
    The department will inform the permittee and the surety in writing of the amount, if any, by which to reduce the bond.
  (2)
(c) The department reserves the right to withhold approval of reclamation for a period not to exceed two years from the department's determination of compliance with the reclamation requirements of the mined land-use plan, in order to verify the success of reclamation. If the permittee requests the department to reduce the amount of the bond during this period, the new bond amount shall be sufficient to cover the cost of performing any additional work that may be necessary to correct or complete that reclamation which proves to be unsuccessful.
(d) Any suit brought upon the bond must be instituted within two years after release, cancellation or termination thereof.