27-991. Financial assurance requirements; form

A. As required by this chapter, owners and operators of exploration operations and mining units who create surface disturbances shall provide financial assurance mechanisms to the inspector as provided by this article.

B. Allowable financial assurance mechanisms for the purposes of this article include any or a combination of the following:

1. Surety bond.

2. Certificate of deposit.

3. Trust fund with pay-in period.

4. Letter of credit.

5. Insurance policy.

6. Certificate of self-insurance.

7. Cash deposit with the state treasurer.

8. Evidence of ability to meet a corporate financial test or corporate guarantees as provided by 40 Code of Federal Regulations section 264.143(f).

9. Annuities.

10. Cash deposit with a third-party escrow or trust account.

11. Additional financial assurance mechanisms that are acceptable to the inspector.

C. All interest and earnings accrued through a cash deposit with a third-party escrow or trust account made pursuant to subsection B, paragraph 10 of this section, minus any applicable administrative fees and costs imposed by the third-party escrow or trust account, are the property of the owner or operator of exploration operations and mining units and may be applied toward the final reclamation costs.  On partial release or substitution of monies deposited in a third-party escrow or trust account, the inspector shall release the proportional share of any interest earned.