Ind. Code § 14-37-6-3

Current through P.L. 171-2024

Section 14-37-6-3 - Duration of bond

Each blanket bond for wells created, modified, or acquired during the duration of a bond that was accepted by the commission before March 11, 1971, must be replaced by a new blanket bond in the amount of thirty thousand dollars ($30,000) before January 2, 2002. The new replacement bond remains in effect until:

(1) the:

(A) owner or operator plugs and abandons each well covered under the blanket bond in accordance with:

(i) this article; and

(ii) rules adopted under this article; and

(B) bond is released by the department; or

(2) a substitute bond is accepted by the department for each well secured by the blanket bond.

IC 14-37-6-3

Pre-1995 Recodification Citation: 13-8-8-3.

As added by P.L. 1-1995, SEC.30. Amended by P.L. 236-2001, SEC.1.