Ariz. Admin. Code § R11-2-805 - Certificates of Deposit
A. An
owner or operator may provide the State Mine Inspector with a certificate of
deposit which shows funds are available for reclamation of surface
disturbances. The certificate of deposit shall name the state of Arizona as
beneficiary. The financial institution issuing the certificate of deposit shall
be a Federal Deposit Insurance Corporation-insured entity whose operations are
regulated by a federal or state agency.
B. The owner or operator may redeem the
certificate of deposit if alternative financial assurance that meets the
requirements of the Act and this Chapter is substituted.
Notes
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