Section 350.595 - Application for inclusion under Abandoned Mine Land Enhancement Program - Coverage under Kentucky reclamation guaranty fund(1) An applicant who desires to remine property which is classified as abandoned mine land under KRS 350.560 may apply to the Reclamation Guaranty Fund Commission established in KRS 350.506 for inclusion under the Abandoned Mine Land Enhancement Program. The commission may provide coverage under the Kentucky reclamation guaranty fund established pursuant to KRS 350.503 not to exceed fifty percent (50%) of the bond amount which the cabinet determines under KRS 350.060 is necessary for the abandoned mine land.(2) When the bond required for the abandoned mine land under KRS 350.060 is increased or reduced, or is released in whole or in part, the coverage provided by the bond pool shall be proportionately increased or reduced.(3) In the event of bond forfeiture on the property, moneys from the Kentucky reclamation guaranty fund shall be used to supplement the forfeited bond.Amended by 2013 Ky. Acts ch. 78,§ 10, eff. 3/22/2013.Effective:7/15/1988
Amended 1988 Ky. Acts ch. 397, sec. 1, effective7/15/1988. -- Created 1984 Ky. Acts ch. 282, sec. 1, effective 7/13/1984.