Section 13-183-68 - Bonds(a) Any person who engages in the drilling, redrilling, deepening, maintaining, operating, or abandoning of any well shall file with the chairperson prior to the activity, an indemnity bond in the amount set by the board to protect the interests of the State, but in no case shall the amount be less than $50,000 for each well or a blanket bond of $250,000 for any number of wells. The amount of bond set by the board shall include the cost of plugging and abandoning the well or wells in accordance with subchapter 11 should it be necessary. The bond shall be executed by the person, as principal, and by a surety company qualified to do business in the state, as surety, conditioned that the principal named in the bonds shall faithfully comply with these rules. The bonds shall inure to and indemnify the state and surface owners against all losses, charges, expenses and claims for damages or injuries caused or resulting from the drilling and operation of the wells.(b) Bonds shall remain in force for the life of the well or wells and may not be released until the well or wells are properly abandoned as determined by the chairperson or another valid bond is substituted therefor. Any person who acquires the ownership or operation of any well or wells shall within five days after acquisition file with the chairperson a new indemnity bond or a consent by the surety to the change in principal under the existing bond.[Eff. JUN 22 1981] (Auth: HRS § 182-14) (Imp: HRS § 182-3)