16 Tex. Admin. Code § 12.303 - Commission Responsibilities
(a) The
Commission shall prescribe and furnish the form for filing a performance
bond.
(b) The Commission shall
prescribe terms and conditions for performance bonds and insurance by
regulations which meet, at a minimum, the requirements of §§
12.304-12.307 of this title (relating to
Amount and Duration of Performance Bond), and of §§
12.308-12.311 of this title (relating to
Form, Conditions, and Terms of Performance Bond and Liability
Insurance).
(c) The Commission
shall determine the amount of the performance bond required for the permit area
including adjustments to the initial amount from time-to-time as land acreages
in the permit area are revised, or when other relevant conditions change
according to the minimum requirements of §
12.304(a) of
this title (relating to Determination of Bond Amount).
(d) The Commission may accept a self-bond in
lieu of a surety or collateral bond if the permittee meets the requirements of
§
12.309(j) of
this title (relating to Terms and Conditions of the Bond) and any additional
requirements of §
12.309(a)-(d) of
this title (relating to Terms and Conditions of the Bond).
(e) The Commission shall release the
permittee from his bond and insurance requirements consistent with §§
12.312 and
12.313 of this title (relating to
Procedures, Criteria, and Schedule for Release of Performance Bond).
(f) The Commission may cause all or part of a
bond to be forfeited consistent with §§12.314 of-12.317 of this title
(relating to Performance Bond Forfeitures Criteria and Procedures).
Notes
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