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Rule Title: BONDING: DEFINITIONS
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Department: ENVIRONMENTAL QUALITY
Chapter: RECLAMATION
Subchapter: Strip and Underground Mine Reclamation Act: Bonding, Insurance, Reporting, and Special Areas
 
Latest version of the adopted rule presented in Administrative Rules of Montana (ARM):

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17.24.1101    BONDING: DEFINITIONS

For purposes of this rule, the following definitions apply:

(1) "Surety bond" means an indemnity agreement in a sum certain payable to the department executed by the permittee which is supported by the performance guarantee of a corporation licensed to do business as a surety in Montana.

(2) "Collateral bond" means an indemnity agreement in a sum certain payable to the department executed by the permittee and which is supported by the deposit with the department of cash, negotiable bonds of the United States, state or municipalities, negotiable certificates of deposit or an irrevocable letter of credit of any bank organized or authorized to transact business in the United States.

 

History: 82-4-205, MCA; IMP, 82-4-223, 82-4-232, 82-4-235, MCA; NEW, 1980 MAR p. 725, Eff. 4/1/80; AMD, 1989 MAR p. 30, Eff. 1/13/89; TRANS, from DSL, 1996 MAR p. 2852; AMD, 2024 MAR p. 258, Eff. 2/10/24.


 

 
MAR Notices Effective From Effective To History Notes
17-432D 2/10/2024 Current History: 82-4-205, MCA; IMP, 82-4-223, 82-4-232, 82-4-235, MCA; NEW, 1980 MAR p. 725, Eff. 4/1/80; AMD, 1989 MAR p. 30, Eff. 1/13/89; TRANS, from DSL, 1996 MAR p. 2852; AMD, 2024 MAR p. 258, Eff. 2/10/24.
1/13/1989 2/10/2024 History: 82-4-204, 82-4-205, MCA; IMP, 82-4-223, 82-4-232, 82-4-235, MCA; NEW, 1980 MAR p. 725, Eff. 4/1/80; AMD, 1989 MAR p. 30, Eff. 1/13/89; TRANS, from DSL, 1996 MAR p. 2852.
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