Sec. 9. (a) If at any time during the period when a self-bond is posted, the financial conditions of the applicant or the corporate guarantor change so that the criteria of sections 4(d)(7), 4(f), and 6 of this chapter are no longer satisfied, the permittee shall do the following:
(1) Notify the director immediately.
(2) Within ninety (90) days of the change in financial condition post an alternate form of bond in the same amount as the self-bond.
(b) If the applicant does not post an alternate form of bond within ninety (90) days of the change in financial condition, the applicant must cease coal extraction and immediately begin reclamation.
[Pre-1995 Recodification Citation: 13-4.1-6.3-13.]
As added by P.L.1-1995, SEC.27. Amended by P.L.176-1995, SEC.19.
Structure Indiana Code
Title 14. Natural and Cultural Resources
Article 34. Surface Coal Mining and Reclamation
14-34-7-0.5. "Collateral" Defined
14-34-7-0.6. "Comparative Balance Sheet" Defined
14-34-7-0.7. "Comparative Income Statement" Defined
14-34-7-1. "Liabilities" Defined
14-34-7-2. "Net Worth" Defined
14-34-7-2.5. "Surface Mining Control and Reclamation Act" Defined
14-34-7-3. "Tangible Net Worth" Defined
14-34-7-4. "Current Assets" Defined
14-34-7-4.1. Method of Replacement of Self-Bonds
14-34-7-5. "Corporate Guarantee" Defined
14-34-7-6. Self-Bond or Corporate Guarantee; Percentage of Net Worth
14-34-7-7. Indemnity Agreement
14-34-7-7.1. Collateral and Indemnity Agreement to Support Self-Bond Application
14-34-7-8. Updated Information for Self-Bond or Corporate Guarantee
14-34-7-9. Change in Financial Condition
14-34-7-10. Report of Public Accounting Consultant
14-34-7-11. Incremental Self-Bonds; Coverage of Deferred Grading Areas
14-34-7-12. Alternate Forms of Self-Bonds; Monitoring of Reclamation