Section 135-7-002 - Methods of Providing Financial ResponsibilityThe applicant shall choose among the following options in establishing financial responsibility:
002.01 A surety bond, payable to the State, and conditioned that, to the amount of such bond, the State shall be reimbursed for all costs arising in connection with the abandonment, default or other inability of the permittee to meet the requirements of these regulations and/or permit conditions and upon determination of forfeiture by the Director pursuant to section 005 below. The bond shall be executed by a responsible surety company authorized to do business in the State of Nebraska.002.02 A collateral bond, in which case the applicant shall deposit, with a bank acceptable to the Department, cash, negotiable bonds issued by the United States or the State; or negotiable certificates of deposit; or deliver to the Department an irrevocable letter of credit of any bank or other savings institution organized or transacting business in the United States. The bank shall receive and hold any collateral bond in the name of the State, in trust, for the purposes for which the deposit is posted. The applicant shall pay all costs of the trust, and shall be paid all interest accruing to the account of the trust.002.03 Any combination of the above.135 Neb. Admin. Code, ch. 7, § 002