30 CFR 800.20 - What additional requirements apply to surety bonds?

§ 800.20 What additional requirements apply to surety bonds?

(a) A surety bond must be executed by the permittee and a corporate surety licensed to do business in the state where the operation is located.

(b) Surety bonds must be noncancellable during their terms, except that surety bond coverage for undisturbed lands may be cancelled with the prior consent of the regulatory authority. Within 30 days after receipt of a notice to cancel bond, the regulatory authority will advise the surety whether the bond may be cancelled on an undisturbed area.

(c) The regulatory authority may decline to accept a surety bond if, in the judgment of the regulatory authority, the surety does not have resources sufficient to cover the default of one or more mining companies for which the surety has provided bond coverage.

This is a list of United States Code sections, Statutes at Large, Public Laws, and Presidential Documents, which provide rulemaking authority for this CFR Part.

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United States Code
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