La. Admin. Code tit. 43 § XV-4707
Current through Register Vol. 50, No. 12, December 20, 2024
Section XV-4707 - Determination of Forfeiture AmountA. The office shall either: 1. determine the amount of the bond to be forfeited on the basis of the estimated cost to the office or its contractor to complete the reclamation plan and other regulatory requirements in accordance with the Act, these regulations and the requirements of the permit; or2. forfeit the entire amount of the bond for which liability is outstanding and deposit the proceeds thereof in an interest-bearing escrow account for use in the payment of all costs and administrative expenses associated with the conduct of reclamation, restoration or abatement activities by the office. In the event the amount of performance bond forfeited was more than the amount necessary to complete reclamation, the unused funds shall be returned by the office to the party from whom they were collected.La. Admin. Code tit. 43, § XV-4707
Promulgated by the Department of Natural Resources, Office of Conservation, LR 5:395 (December 1979), amended LR 14:441 (July 1988), LR 20:447 (April 1994).AUTHORITY NOTE: Promulgated in accordance with R.S. 30:901-932.