675 Ind. Admin. Code 12-12-6

Current through December 4, 2024

Section 675 IAC 12-12-6 - Performance bond

Authority: IC 13-23-3-1; IC 13-23-3-2; IC 13-23-3-3; IC 13-23-3-4

Affected: IC 13-23-3-3

Sec. 6.

If a person files a performance bond with an application for a certificate under IC 13-23-3-3(c), the amount of the bond shall be equal to the dollar value of a single contract awarded to the person for the installation, retrofitting, testing, cathodic protection, or decommissioning of one (1) or more underground storage tanks at a particular location. The division shall:

(1) act only as a custodian; and

(2) not be obligee of the bond.

675 IAC 12-12-6

Fire Prevention and Building Safety Commission; 675 IAC 12-12-6; filed Sep 13, 1990, 4:00 p.m.: 14 IR 287; filed Jan 24, 1992, 11:45 a.m.: 15 IR 1009; filed Jan 30, 1998, 4:00 p.m.: 21 IR 2113; readopted filed Sep 11, 2001, 2:49 p.m.: 25 IR 530; filed Aug 30, 2006, 2:25 p.m.: 20060927-IR-675050108FRA; readopted filed Aug 8, 2012, 8:08 a.m.: 20120905-IR-675120260RFA

Readopted filed 7/3/2018, 2:22 p.m.: 20180801-IR-675180204RFA