020-11 Wyo. Code R. § 11-1

Current through April 27, 2019

Section 11-1 - Definitions

(a) "Self-bond" means an indemnity agreement in a sum certain made payable to the State, with or without separate surety. The indemnity agreement is signed by the permittee and, if applicable, the parent or non-parent corporate guarantor.

(b) "Collateral" means the actual or constructive deposit, as appropriate, with the Administrator of one or more of the following kinds of property to support a self-bond:

(i) A perfected, first lien security interest in real property located within the State of Wyoming, in favor of the Wyoming Department of Environmental Quality which meets the requirements of this Chapter.

(ii) Securities backed by the full faith and credit of the United States government or State government securities acceptable to the Administrator. These securities must be endorsed to the order of, and placed in the possession of, the Administrator.

(iii) Personal property located within the State, owned by the operator, which in market value exceeds 1 million dollars per property unit.

(c) "Comparative balance sheet" means item amounts from a number of the operator's successive yearly balance sheets arranged side-by-side in a single statement.

(d) "Comparative income statement" means an operator's income statement amounts for a number of successive yearly periods arranged side-by-side in a single statement.

(e) "Current assets" means cash and assets that are reasonably expected to be realized in cash or sold or consumed within one year or within the normal identified operating cycle of the business.

(f) "Current liabilities" means debts or other obligations that must be paid or liquidated within one year or within the normal identified operating cycle of the business. This shall also include dividends payable on preferred stock within one quarter if declared, or one year if a pattern of declaring dividends each quarter is apparent from the business' past practices.

(g) "Fixed assets" means plants and equipment, but for coal mining operations does not include land or coal in place.

(h) "Liabilities" means obligations to transfer assets or provide services to other entities in the future as a result of past transactions.

(i) "Parent corporation" means a corporation which owns or controls the applicant.

(j) "Tangible net worth" means net worth minus intangibles such as goodwill, patents or royalties.

(k) "Net worth" means total assets minus total liabilities and is equivalent to owners' equity.

020-11 Wyo. Code R. § 11-1