§ 880-X-9B-.05. Adjustment Of Amount
(1) The amount of the performance bond liability applicable to a permit shall be adjusted by the State Regulatory Authority as the acreage in the permit area is revised, methods of mining operation change, standards of reclamation change or when the cost of future reclamation, restoration or abatement work changes. The State Regulatory Authority shall notify persons involved in bond coverage of any proposed bond adjustments and provide those persons an opportunity for an informal conference on the adjustment. For purposes of this Rule, a person involved in a bond coverage shall include the permittee, and surety, and any other person with a property interest in collateral posted under this Chapter who has, in writing to the State Regulatory Authority, requested such notification at the time the collateral is posted or the interest is acquired, whichever occurs later. The State Regulatory Authority shall review each outstanding performance bond at the time that permit reviews are conducted under Rule 880-X-8M-.05 and re-evaluate those performance bonds in accordance with the standards in Rule 880-X-9B-.02.
(2) A permittee, surety or any person with property interest in collateral offered as bond coverage may request reduction of the required performance bond amount upon submission of evidence to the State Regulatory Authority proving that the permittee's method of operation, or other circumstances will reduce the maximum estimated cost to the State Regulatory Authority if it has to complete the reclamation and therefore warrants a reduction of the bond amount. Such request shall only be made annually or at such time as a permit review is conducted under Rule 880-X-8M-.05. The request shall be considered as a request for partial bond release in accordance with the procedures of Rule 880-X-9D.
Statutory Authority: Code of Ala. 1975, §§ 9-16-71, 73, 74, 75, 80, 81, 82, 83, 84, 85, 89, 90, 91.
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