Section 329 IAC 15-5-9 - Bond for performanceAuthority: IC 13-19-3-1; IC 13-20-14-6
Affected: IC 13-30-2; IC 36-9-30
Sec. 9.
(a) A waste tire transporter may comply with this rule by establishing a performance bond on: (1) forms provided by the department; or(2) other forms approved by the department.(b) All performance bonds must contain the following: (1) The establishment of penal sums in the amount of not less than ten thousand dollars ($10,000).(2) Provision that the surety company shall do either of the following if the commissioner notifies the surety company in writing that the waste tire transporter has failed to fulfill its obligations under this article:(A) Perform the obligations of the waste tire transporter.(B) Submit payments to the department for the entire amount of the penal sum required under subdivision (1).(3) Provision that the surety company may not cancel the bond without first sending notice of cancellation by certified mail to the waste tire transporter and the department at least one hundred twenty (120) days before the effective date of the cancellation.(4) Provision that the waste tire transporter may not terminate the bond without prior written authorization by the department.(c) The surety company issuing the bond must be:(1) among those listed as acceptable sureties for federal bonds in the most recent Circular 570* of the United States Department of the Treasury; and(2) authorized to do business in Indiana.(d) The surety company is not liable for deficiencies in the performance of the waste tire transporter after the department releases the waste tire transporter in accordance with section 12 of this rule. *This document is available for viewing at https://www.fiscal.treasury.gov/surety-bonds/circular-570.html and may be obtained from the United States Department of the Treasury, Bureau of the Fiscal Service, Surety Bond Program, 3700 East West Highway, Room 6D22, Hyattsville, MD 20782.
Solid Waste Management Board; 329 IAC 15-5-9; filed Oct 10, 2000, 3:10 p.m.: 24 IR 332; readopted filed Nov 30, 2006, 4:16 p.m.: 20061227-IR-329050168FRAReadopted filed Jul 18, 2012, 2:26 p.m.: 20120815-IR-329120206BFA; readopted filed Jun 6, 2018, 1:57 p.m.: 20180704-IR-329180170BFAFiled 11/28/2022, 10:42 a.m.: 20221228-IR-329170279FRA