Section 11-8-2.4-47-4705 - Criteria for Forfeiture(a) A bond shall be forfeited if the Commission finds that: (1) the permittee has violated any of the terms or conditions of the bond; or(2) the permittee has failed to conduct the surface mining and reclamation operations in accordance with the act, the conditions of the permit or these regulations within the time required by the act, these regulations and the permit; or(3) the permit for the area under bond has been revoked, unless the operator assumes liability for completion of reclamation work; or(4) the permittee has failed to comply with a compliance schedule approved pursuant to § 4701(b).(b) A bond may be forfeited if the Commission finds that: (1) the permittee has become insolvent, failed in business, been adjudicated a bankrupt, filed a petition in bankruptcy or for a receiver or had a receiver appointed by any court; or a creditor of the permittee has attached or executed a judgment against the permittee's equipment, materials, facilities at the permit area or on the collateral pledged to the Commission;(2) the permittee cannot demonstrate or prove the ability to continue to operate in compliance with the act, these regulations and the permit.11 Miss. Code. R. § 8-2.4-47-4705