Ill. Admin. Code tit. 62 § 240.1440

Current through Register Vol. 48, No. 25, June 21, 2024

Section 240.1440 - Responsibilities of New Permittee

Prior to the Department giving effect to the transfer, the new permittee shall:

a) Confirm with the Department and the current permittee the acceptance of the transfer or sale on a form prescribed by the Department. The form shall include an Ownership Certification Statement as defined in Section 240.1400. A form shall be completed for each lease, well or unit assigned, transferred or sold. The notification of acceptance shall be signed, under penalty of perjury, by the new permittee or the permittee's authorized representatives.

b) pay the required non-refundable transfer fee as follows: A fee of $75 per well for the first 100 wells and a fee of $50 per well for any wells in excess of 100 wells shall be paid by the new owner for each transfer of well ownership (Section 14 of the Act);

c) provide the required bond, if applicable, in accordance with Subpart O;

d) if a corporation, provide evidence that the corporation is incorporated or authorized to do business in the State of Illinois, and authorized under its charter to engage in the permitted activity;

e) if an individual, partnership or other unincorporated entity that is not a resident of Illinois, provide an irrevocable consent to be sued in Illinois;

f) if issued, submit an FEIN number;

g) if the transfer request is for a PRF well, the new permittee shall comply with Section 240.1465.

Ill. Admin. Code tit. 62, § 240.1440

Amended at 25 Ill. Reg. 9045, effective July 9, 2001

Amended at 38 Ill. Reg. 18717, effective 8/29/2014

Amended at 42 Ill. Reg. 5811, effective 3/14/2018

Amended at 46 Ill. Reg. 20013, effective 1/1/2023