25 Pa. Code § 77.228 - Failure to maintain proper bond
(a)
If a permittee fails to post promptly additional bond required under §
77.205(a)
(relating to adjustments) or fails to make timely deposits of bond according to
the schedule submitted under §
77.226 (relating to phased
deposits of collateral), the Department will issue a notice of violation to the
permittee, and if the permittee fails to show satisfactory compliance, the
Department will issue a cessation order for the permittee's permit areas and
thereafter may take appropriate actions.
(b) The permittee shall, at all times,
maintain a bond in an amount and with sufficient guarantee as provided by this
chapter. If a surety company who has provided surety bonds, or a bank who has
provided letters of credit or certificates of deposit for a permittee, enters
into bankruptcy or liquidation, or has its license suspended or revoked, or for
another reason indicates an inability or unwillingness to provide an adequate
financial guarantee of the obligations under the bond or instrument, the
Department will issue a notice of violation to the permittee requiring that
affected permits be rebonded according to the requirements of this subchapter.
If the permittee fails to correct the violation within the prescribed period
for correction, the Department will issue a cessation order for the permittee's
permit areas and thereafter may take appropriate actions.
Notes
This section cited in 25 Pa. Code § 77.221 (relating to scope).
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