25 Pa. Code § 86.156. Form of the bond.

§ 86.156. Form of the bond.

(a)  The Department will accept the following types of bonds:
   (1)  A surety bond.
   (2)  A collateral bond.
   (3)  A self bond.
   (4)  A combination of bonding instruments as provided in §  86.160 (relating to combination of bonding instruments), for coal surface mining activities.
   (5)  A phased deposit of collateral bond as provided in §  86.161 (relating to phased deposits of collateral), for long-term mines, long-term facilities and coal refuse disposal activities.
   (6)  Subsidence insurance as provided in §  86.162 (relating to subsidence insurance in lieu of bond), for risk of subsidence from bituminous underground mines.
(b)  A financial or other institution which issues or provides annuities, trust funds, letters of credit, certificates of deposit, life or property and casualty insurance or surety bonds, shall certify in writing to the Department that it will immediately notify the Department and the permittee, if permissible under the law, of any action filed either alleging the insolvency or bankruptcy of the institution, or permittee or alleging violations which would result in suspension or revocation of its charter or license to do business in this Commonwealth.
(c)  A permittee executing a bond shall certify in writing to the Department that it will immediately notify the Department, if permissible under the law, of action filed alleging the insolvency or bankruptcy of the permittee.

Authority

   The provisions of this §  86.156 amended under the Surface Mining Conservation and Reclamation Act (52 P.S. § §  1396.1—1396.19a); The Bituminous Mine Subsidence and Land Conservation Act (52 P.S. § §  1406.1—1406.21); The Clean Streams Law (35 P.S. § §  691.1—691.1001); and section 1920-A of The Administrative Code of 1929 (71 P.S. §  510-20).

Source

   The provisions of this §  86.156 adopted December 19, 1980, 10 Pa.B. 4789, effective July 31, 1982, 12 Pa.B. 2382; amended July 30, 1982, 12 Pa.B. 2473, effective July 31, 1982, 12 Pa.B. 2382; amended June 15, 1990, 20 Pa.B. 3383, effective July 27, 1991, 21 Pa.B. 3316; amended December 15, 1995, effective December 16, 1995, 25 Pa.B. 5821; amended November 14, 1997, effective November 15, 1997, 27 Pa.B. 6041; amended November 28, 1997, effective November 29, 1997, 27 Pa.B. 6186. Immediately preceding text appears at serial pages (237095) to (237096).

Cross References

   This section cited in 25 Pa. Code §  86.155 (relating to scope); and 25 Pa. Code §  86.162a (relating to Anthracite Deep Mine Operators Emergency Bond Fund).

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