Section 14-34-7-9 - Change in financial condition(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.