Section 312 IAC 25-5-6 - Performance bonds; formAuthority: IC 14-34-2-1
Affected: IC 14-34-3; IC 14-34-6; IC 14-34-9; IC 14-34-10
Sec. 6.
(a) The form of the performance bond shall be approved by the director. The director may allow for any of the following: (3) An escrow account bond.(4) Combined surety/escrow bonding.(5) A combination of any of the bonding methods in subdivisions (1) through (4).(b) Where the mining operation is owned by two (2) or more persons or entities, the director may allow each person to provide separate financial assurance provided that the total of such assurance is sufficient to accomplish reclamation.(c) A blanket bond covering statewide or county wide operations may be furnished if the terms and conditions thereof are sufficient to comply with this rule and if approved by the director. Natural Resources Commission; 312 IAC 25-5-6; filed Jun 21, 2001, 2:53 p.m.: 24 IR 3503, 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