16 Tex. Admin. Code § 12.308 - Form of the Performance Bond
(a) The
form for the performance bond shall be prescribed by the Commission in
accordance with this section. The Commission may allow for:
(1) a surety bond;
(2) a collateral bond;
(3) an escrow account bond;
(4) self-bonding; or
(5) combined surety/escrow bonding.
(b) Where the mining operation is
owned by two or more persons or entities, the Commission shall allow each
person to provide separate financial assurance provided that the total of such
assurance is sufficient to accomplish reclamation.
(c) A blanket bond covering statewide or
countywide operations may be furnished if the terms and conditions thereof are
sufficient to comply with the regulations in §§12.308 through 12.311
of this title (relating to Form, Conditions, and Terms of Performance Bond and
Liability Insurance), and if approved by the Commission.
Notes
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