Section 519A.593 - Payment of entry deposit1. Each participant must pay the entry deposit required by this section to maintain participation in the bond pool. The amount of the deposit will be adjusted if the bond coverage provided by the pool increases or decreases solely because of a recalculation of the amount of the bond.2. If an operator becomes a participant or the bond coverage provided by the pool changes because the plan is amended: (a) Before August 23, 2002, the deposit is equal to 15 percent of his or her bond coverage at the time of entry into the bond pool or amendment of the plan, as applicable.(b) On or after August 23, 2002, and before the effective date of this regulation, the amount of the deposit for: (1) A bond that is less than $10,000, is 100 percent of the amount of the bond; and(2) A bond that is $10,000 or more, is a percentage of the amount of the bond calculated using the following formula: 3/299,000 (amount of bond - 10,000) +50
(c) On or after the effective date of this regulation, the amount of the deposit for: (1) A bond for a notice-level project or for less than $10,000, is 100 percent of the amount of the bond; and(2) A bond that is not for a notice-level project and is for $10,000 or more, is a percentage of the amount of the bond calculated using the following formula: 3/299,000 (amount of bond - 10,000) +50
3. The deposit and any addition to the original deposit must remain in the bond pool until the participant has been released by the responsible regulatory authority from further reclamation liability. The deposit will not be released in the event of a forfeiture.Nev. Admin. Code § 519A.593
Added to NAC by Environmental Comm'n by R044-19A, eff. 12/17/2019