Ariz. Admin. Code § R11-2-812 - Annuities
A. An owner or
operator may provide the State Mine Inspector an annuity as financial assurance
for reclamation. The annuity shall name the state of Arizona as the
beneficiary. The financial institution, if any, shall be licensed to do
business in the state of Arizona. Any incremental or annual payment shall be in
an amount adequate to pay all costs of reclamation for land disturbed in that
incremental or annual period.
B.
The owner or operator may cancel the annuity only if alternate financial
assurance that meets the requirements of the Act and this Chapter is
provided.
Notes
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