Effective - 28 Aug 1993
444.368. Financial assurance instrument required, form, amount — confidential information not to be released — duration, use, forfeiture — release of. — 1. Before a permit can be issued, the operator shall file a demonstration of financial assurance in the form of a bond, certificate of deposit, letter of credit, insurance, company guarantee, escrow agreement or other form of financial assurance as approved by the director.
2. Any financial assurance instrument shall be in such form as the director prescribes, to the benefit of the state of Missouri, conditioned that the operator shall faithfully perform all terms of the permit and all requirements of sections 444.352 to 444.380. The financial assurance instrument shall be signed by the operator and shall be in the penal sum of one thousand dollars for each acre or fraction of an acre of the metallic minerals waste management area, but not less than twenty thousand dollars for each permit. In a particular instance where the circumstances are such as to warrant an exception, the director, in his discretion, may reduce the amount of the bond for a particular operation to less than the required amount, but in no event less than the minimum of twenty thousand dollars for each permit.
3. The financial assurance instrument shall remain in effect until the area has been closed, approved and released by the director.
4. If a bond is furnished, it shall be signed by the operator as principal, and by a good and sufficient corporate surety, licensed to do business in this state as surety.
5. No financial assurance instrument shall be cancelled or terminated by the operator except after no less than ninety days' notice and substitution by some other financial assurance approved by the director. An operator shall not operate a metallic minerals waste management area at any time without adequate financial assurance approved by the director.
6. In the event a company guarantee is furnished, it shall be in the form of a letter, duly executed by an officer of the company, guaranteeing the required amount of financial assurance, accompanied by a financial test statement demonstrating ownership of real property or mining rights in the state of Missouri of an assessed valuation of at least three times the amount of the required financial assurance.
7. In the event a company furnishes an "other form of financial assurance" as provided in subsection 1 of this section, which is in the form of a financial test based on information such as income, net worth, assets, liabilities, or working capital, and such information is not customarily disclosed by the company to the general public, such information, at the written request of the company, shall be confidential and shall not be disclosed by the director or employees of the department of natural resources.
8. The director shall give written notice to the operator of any violation of sections 444.352 to 444.380 and if corrective measures are not commenced within ninety days, the director may proceed as provided in section 444.378 to request forfeiture of the financial assurance.
9. The director may conduct remedial measures in keeping with provisions of sections 444.352 to 444.380 with respect to land upon which financial assurance has been forfeited.
10. Whenever an operator has completed all requirements for closure and inspection-maintenance under the conditions of this permit and the provisions of sections 444.352 to 444.380 as to any area, he shall notify the director. If the director determines that the operator has completed the requirements for any area or portion of an area, the director shall release the operator from further obligations regarding the affected land and the financial assurance shall be released or reduced proportionately.
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(L. 1989 H.B. 321 § 8, A.L. 1993 H.B. 312 & 257)
Structure Missouri Revised Statutes
Title XXIX - Ownership and Conveyance of Property
Chapter 444 - Rights and Duties of Miners and Mine Owners
Section 444.020 - Failure to post statement of conditions, effect — rights of miners.
Section 444.030 - Tender of payment.
Section 444.040 - Notice to owner or lessee.
Section 444.050 - Ownership of ore.
Section 444.060 - Injunction or restraining order — how granted.
Section 444.070 - Mining extending to adjoining lands, how determined.
Section 444.080 - Order to be read.
Section 444.090 - Refusal to permit survey — penalty.
Section 444.100 - Provisions for mining coal in certain cities.
Section 444.110 - Notice of intention to mine — publication required.
Section 444.120 - Permit from mayor and council — petition to circuit court.
Section 444.130 - Court to authorize mining operations, when — period of time specified.
Section 444.140 - Form of bond required.
Section 444.150 - Written permission of owner required — violation — provisions for payment of fine.
Section 444.160 - Costs, paid by whom.
Section 444.180 - Certain sections apply only to coal mining companies.
Section 444.320 - Mining under public highways and railroads prohibited.
Section 444.330 - Penalty for violation of section 444.320.
Section 444.350 - Citation of law.
Section 444.352 - Definitions.
Section 444.355 - Director, powers.
Section 444.358 - Permit required, when.
Section 444.360 - Application for permit, contents.
Section 444.362 - Closure plan, purposes, contents, review of.
Section 444.365 - Inspection — maintenance plan, purposes, contents, review of.
Section 444.372 - Permits, final approval by director — denial of permit, procedures.
Section 444.377 - Hearings, procedures.
Section 444.380 - Rules, authority, promulgation, procedure.
Section 444.410 - Members, interstate mining commission — appointment — compensation.
Section 444.500 - Citation of law.
Section 444.510 - Definitions.
Section 444.530 - Powers of commission — rules, procedure.
Section 444.540 - Annual strip mining permit required, fee, renewal.
Section 444.550 - Application for permit, contents.
Section 444.560 - Reclamation plan required, contents.
Section 444.570 - Bond, amount — commission may waive.
Section 444.580 - Annual permit, how amended.
Section 444.590 - Successor operator, assumption of liability — first operator released, when.
Section 444.600 - Permit — investigation, decision, hearing, court review — appeals.
Section 444.610 - Reclamation and care requirements.
Section 444.620 - Time limits on reclamation practices.
Section 444.630 - Report, when required, contents.
Section 444.640 - Commission to investigate all reports — release from bond, when.
Section 444.650 - Application for release from bond — objection, effect of — appeal.
Section 444.660 - Additional time, granted when.
Section 444.670 - Commission may inspect and search — warrant, where obtained.
Section 444.680 - Injunction, when — violation, procedure — hearing.
Section 444.690 - Testimony at hearing, how recorded — available, when.
Section 444.700 - Judicial review, when — additional evidence authorized.
Section 444.710 - Injunction and forfeiture of bond, when — attorney general to act.
Section 444.720 - Rules and regulations, when effective — notice, hearing — variances authorized.
Section 444.730 - Mined land reclamation fund created — purpose.
Section 444.740 - Commission authorized to receive funds and services.
Section 444.750 - Recreational use of reclaimed lands encouraged.
Section 444.755 - Repeal of existing law not intended.
Section 444.760 - Short title.
Section 444.762 - Declaration of policy.
Section 444.765 - Definitions.
Section 444.766 - Exceptions to land reclamation act provisions.
Section 444.767 - Powers of commission — rules, procedure, review.
Section 444.770 - Permit required, when — release of certain bonds — complaints, requirements.
Section 444.771 - Limitation on permits near an accredited school.
Section 444.774 - Reclamation requirements and conditions.
Section 444.775 - Release of bond, conditions — petition, hearing — administrative review.
Section 444.777 - Entry upon lands and inspection by commission members — warrants to issue.
Section 444.778 - Bond — form — amount — duration — forfeiture — power of reclamation.
Section 444.786 - Operation without permit prohibited, penalty.
Section 444.788 - Civil action.
Section 444.789 - Administrative procedure — inapplicability to public meetings.
Section 444.805 - Definitions.
Section 444.810 - Powers of commission — abandoned mine reclamation fund created, purpose.
Section 444.825 - Reclamation plan contents — confidential items.
Section 444.870 - Penalties, administrative and criminal, procedure.
Section 444.875 - Release of all or part of performance bond, procedure — objections may be filed.
Section 444.885 - Cessation orders — suspension or revocation of permits — injunctive relief.
Section 444.900 - Judicial review.
Section 444.905 - Severability — rights retained — replacement of water — explosives regulations.
Section 444.915 - Abandoned mine reclamation fund — deposits and expenditures.
Section 444.920 - Abandoned mine reclamation fund, commission's duties and powers.
Section 444.935 - Public health hazards — actions to abate, procedure.
Section 444.955 - Revegetation of mined land, responsibility transfer, approval required.
Section 444.960 - Fund, coal mine land reclamation, established, purpose, duties.
Section 444.970 - Penalty — delinquency or failure to comply with assessment or reclamation plan.