Section 312 IAC 25-5-10 - General terms and conditions of bondAuthority: IC 14-34-2-1
Affected: IC 14-34-3; IC 14-34-6; IC 14-34-9; IC 14-34-10
Sec. 10.
(a) The performance bond shall be in an amount determined by the director as provided in section 8 of this rule.(b) The performance bond shall be payable to "State of Indiana Department of Natural Resources".(c) The performance bond shall be conditioned upon faithful performance of all of the requirements of IC 14-34, this article, the director, and the conditions of the permit.(d) The duration of the bond shall be for the time period provided in section 7 of this rule.(e) Reporting requirements for the bond shall be as follows:(1) The bond shall provide for a mechanism for a bank or surety company to give prompt notice to the director and the permittee of any action filed alleging: (A) the insolvency or bankruptcy of the surety company or the bank; or(B) any violations that would result in suspension or revocation of the surety's charter or bank's charter or license to do business.(2) Upon the incapacity of a bank or surety company by reason of:(B) insolvency or suspension; or(C) revocation of its charter or license; the permittee shall be deemed to be without bond coverage. The director shall issue a notice of violation to any operator who is without bond coverage and shall specify a reasonable period to replace bond coverage not to exceed ninety (90) days. During this period the director will conduct weekly inspections to ensure continuing compliance with the permit, this article, and IC 14-34. Such notice of violation, if abated within the period allowed, shall not be counted as a notice of violation for purposes of determining a pattern of willful violation under 312 IAC 25-7-7 and need not be reported as a past violation in permit applications under 312 IAC 25-4-18 and 312 IAC 25-4-59. If such notice of violation is not abated in accordance with the schedule, a cessation order shall be issued.
Natural Resources Commission; 312 IAC 25-5-10; filed Jun 21, 2001, 2:53 p.m.: 24 IR 3504, eff Dec 1, 2001; readopted filed May 29, 2007, 9:51 a.m.: 20070613-IR-312070146RFA; readopted filed Sep 19, 2013, 10:12 a.m.: 20131016-IR-312130125RFAReadopted filed 3/26/2019, 3:40 p.m.: 20190424-IR-312190011RFA