Section 519A.585 - Establishment of amount of bond; amount of coverage by bond pool1. The responsible regulatory authority shall establish the amount of the reclamation performance bond.2. A participant is subject to a maximum bond amount for which the bond pool may be liable. The maximum amount may be reached by bonding more than a single mining operation or exploration project or a combination thereof.3. A participant may participate in the bond pool with greater bond coverage than is required by the responsible regulatory authority with the approval of the Administrator or a person designated by him or her. Any coverage in excess of the coverage required by the responsible regulatory authority must be identified and may not be used to cover reclamation costs in the event of the forfeiture by the participant. The Administrator or a person designated by the Administrator will include any such coverage in determining the amount of the deposit the participant is required to pay pursuant to section 3 of this regulation and the amount of the premiums the participant is required to pay pursuant to NAC 519A.595.4. The maximum bond coverage for a participant who is the operator of one or more mining operations or exploration projects, or any combination thereof, is $3,000,000.5. A participant may request a change in his or her bond pool coverage. The Administrator or a person designated by the Administrator may require additional information before increasing the bond coverage of a participant.Nev. Admin. Code § 519A.585
Added to NAC by Dep't of Minerals, eff. 10-9-90; A 3-4-92; A by Div. of Minerals, 11-14-97; A by Comm'n on Mineral Resources by R066-02, 8-23-2002; A by R044-19A, eff. 12/17/2019