Section 534A.250 - Bond: Filing requirements; amount; form; duration1. Except as otherwise provided in this section, the operator shall provide a sufficient bond in favor of the State of Nevada for each geothermal well, conditioned on the plugging of the well upon abandonment in accordance with NAC 534A.170 to 534A.690, inclusive, and sections 3 to 8, inclusive. The bond must be: (a) In the sum of: (1) For a thermal gradient well, not less than $10,000; and(2) For a commercial or industrial well, not less than $25,000.(b) Submitted with the application for a permit to drill or operate an individual geothermal well or an application for a permit to drill or operate geothermal wells in a project area.2. An operator may file a blanket bond, in the sum of at least $100,000, to cover all wells to be drilled or operated by the operator in a project area for which the operator has received a permit pursuant to NAC 534A.193.3. A bond must be: (b) Issued by a surety authorized to do business in Nevada; or(c) In the form of a savings certificate or time certificate of deposit which is: (1) Issued by a bank or savings and loan association operating in Nevada; and(2) Payable to the State of Nevada.4. An operator who has deposited a performance bond with the Federal Government for wells drilled on federal property shall submit evidence of that bond with the Division.5. If an operator transfers ownership of a well, the Division may review the bond filed pursuant to this section to determine whether the existing amount of the bond for the well is sufficient.6. The bond required by this section must remain in effect until the well is properly abandoned, the surface is properly restored and the bond is formally released by the Division.Nev. Admin. Code § 534A.250
Added to NAC by Comm'n on Mineral Resources, eff. 11-12-85; A 12-16-92; A by R032-19A, eff. 12/16/2019