N.M. Admin. Code § 19.8.14.1405 - ADJUSTMENT OF AMOUNT
A. The
amount of the bond or deposit required and the terms of the acceptance of the
permittee's bond shall be adjusted by the director from time to time as the
area requiring bond coverage is increased or decreased or where the cost of
future reclamation changes. The director may specify periodic times or set a
schedule for reevaluating and adjusting the bond amount to fulfill this
requirement.
B. The director shall:
(1) notify the permittee, the surety, and any
person with a property interest in collateral who has requested notification
under Subsection F of
19.8.14.1410 NMAC of any proposed
adjustment to the bond amount; and
(2) provide the permittee an opportunity for
an informal conference on the adjustment.
C. A permittee may request reduction of the
amount of the performance bond upon submission of evidence to the director
proving that the permittee's method of operation or other circumstances reduces
the estimated cost for the state of New Mexico to reclaim the bonded area. Bond
adjustments which involve undisturbed land or revision of the cost estimate of
reclamation are not considered bond release subject to procedures of
19.8.14.1413 NMAC.
Notes
State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will be added as we have more versions to compare.
No prior version found.