Section R11-2-817. Application for Release of Financial Assurance

A.       The financial assurance shall not be released until all condi- tions and requirements of the Act and this Chapter have been satisfied.

B.       Within 60 days after receiving a request for release of a finan- cial assurance, the State Mine Inspector, or a designated agent, shall inspect the exploration operation or mining unit to deter- mine whether the owner or operator has fulfilled the require- ments of the approved reclamation plan and either:

1.        Approve the release of the financial assurance or portion thereof; or

2.        Notify the owner and operator in writing that the financial assurance or portion thereof will not be released, the rea- sons why, and the measures necessary to satisfy the requirements of the approved reclamation plan.

C.       If a request to release is denied, the owner or operator may appeal the decision as provided by 12 A.A.C. 7, Article 6.

D.       The 60 days within which the State Mine Inspector, or a desig- nated agent, shall respond to a request to release a financial assurance may be extended by mutual agreement if conditions prevent an inspection of the reclaimed land.

E.       The State Mine Inspector shall release the transferor’s finan- cial assurance mechanism upon receipt of alternate financial assurance that meets the requirements of the Act and this Chapter from the transferee.

Historical Note

Adopted effective January 6, 1997 (Supp. 97-1).