Okla. Admin. Code § 460:20-37-2

Current through Vol. 42, No. 7, December 16, 2024

Section 460:20-37-2 - Department responsibilities

(a) The Department shall prescribe and furnish forms for filing performance bonds.

(b) The Department shall prescribe by regulation terms and conditions for performance bonds and insurance.

(c) The Department shall determine the amount of the bond for each area to be bonded, in accordance with Section 460:20-37-7. The Department shall also adjust the amount as acreage in the permit area is revised, or when other relevant conditions change according to the requirements of Section 460:20-37-8.

(d) The Department may accept a self-bond if the permittee meets the requirements of Section 460:20-37-13 and any additional requirements in the State or Federal program.

(e) The Department shall release liability under a bond or bonds in accordance with Section 460:20-37-15.

(f) If the conditions specified in Section 460:20-37-16 occur, the Department shall take appropriate action to cause all or part of a bond to be forfeited in accordance with procedures of that Section.

(g) The Department shall require in the permit that adequate bond coverage be in effect at all times. Except as provided in Section 460:20-37-9(e) (2), operating without a bond is a violation of a condition upon which the permit is issued.

Okla. Admin. Code § 460:20-37-2