4 Va. Admin. Code § 25-130-800.15

Current through Register Vol. 41, No. 6, November 4, 2024

Section 4VAC25-130-800.15 - Adjustment of amount

(a) The amount of the bond or deposit required and the terms of the acceptance of the applicant's bond shall be adjusted by the division from time to time as the area requiring bond coverage is increased or decreased or where the cost of future reclamation changes. The division may specify periodic times or set a schedule for reevaluating and adjusting the bond amount to fulfill this requirement.

(b) The division shall:

(1) Notify the permittee, the surety, and any person with a property interest in collateral who has requested notification under 4VAC25-130-800.21(c) of any proposed adjustment to the bond amount; and

(2) Provide the permittee an opportunity for an informal conference on the adjustment.

(c) A permittee may request reduction of the amount of the performance bond upon submission of evidence to the division proving that the permittee's method of operation or other circumstances reduces the estimated cost for the division to reclaim the bonded area. Bond adjustments which involve undisturbed land or revision of the cost estimate of reclamation are not considered bond release subject to procedures of 4VAC25-130-800.40.

(d) In the event that an approved permit is revised in accordance with Subchapter VG, the division shall review the bond for adequacy and, if necessary, shall require adjustment of the bond to conform to the permit as revised.

4 Va. Admin. Code § 25-130-800.15

Derived from VR480-03-19 § 800.15, eff. December 15, 1981; amended, eff. June 28, 1982; October 28, 1982; December 14, 1982; October 11, 1983; December 27, 1983; May 8, 1984; June 22, 1984; August 2, 1984; October 16, 1985; January 7, 1987; July 22, 1987; November 25, 1987; October 12, 1988; December 26, 1990; July 1, 1991; July 17, 1991; November 20, 1991; July 7, 1992; May 5, 1993; October 19, 1994.

Statutory Authority

§§ 45.1-161.3 and 45.1-230 of the Code of Virginia.