MARVIN MANDEL, Governor                                 995

PLANTING IS COMPLETED AND CERTIFIED BY THE STATE

FORESTER AS DONE IN A WORKMANLIKE MANNER. THE

DIRECTOR THEN SHALL RELEASE THE BOND IN THE REMAINING
AMOUNT OF $50 PER ACRE.

REVISOR'S NOTE: This subsection presently appears
as Article 66C, section 666 (b) of the Code.
The only changes made are in style.

(C) LIMITATION.—IF WITHIN TWO YEARS AFTER THE
COMPLETION OF THE STRIP MINING OPERATION DEEP MINING
HAS NOT BEEN INITIATED AT THE PROPOSED LOCATION,
RECLAMATION SHALL BE COMPLETED IN ACCORDANCE WITH THIS
SUBTITLE.

REVISOR'S NOTE: This subsection presently appears
as Article 66C, section 666 (c) of the
Code. The only changes made are in style.

7-510. REVEGETATION BONDS; STATE PARTICIPATION IN
COST OF REVEGETATION; DIRECTOR AUTHORIZED TO RECEIVE
AND EXPEND FUNDS FOR RECLAMATION AND REVEGETATION.

(A) COMMITTEE TO ESTABLISH REVEGETATION
BONDS.—THE COMMITTEE SHALL ESTABLISH A REVEGETATION
BOND FOR EACH OPEN-PIT MINING OPERATION AT THE TIME OF
APPROVAL OF THE MINING AND RECLAMATION PLAN. THE
AMOUNT OF THE BOND SHALL BE BASED ON THE ESTIMATED
REVEGETATION COST FOR THE AREA AFFECTED BY THE
OPERATION. THE BOND SHALL BE CASH OR NEGOTIABLE
SECURITIES, OR A SURETY OR PERFORMANCE BOND AND MAY
NOT BE LESS THAN $50 NOR MORE THAN $125 PER ACRE. THE
BOND SHALL BE DEPOSITED BY THE OPERATOR WITH THE
BUREAU. ON RECEIPT OF ANY DEPOSIT, THE DIRECTOR
IMMEDIATELY SHALL PLACE IT WITH THE STATE TREASURER,
WHO SHALL HOLD THE DEPOSIT IN THE NAME OF THE STATE,
IN TRUST, FOR THE PURPOSE FOR WHICH THE DEPOSIT IS
MADE. WHEN THE COMMITTEE APPROVES THE MINING AND
RECLAMATION FINAL REPORT; INCLUDING THE PLANTING
REPORT THE STATE FORESTER FILES UNDER THE PROVISIONS
OF §7-511, THE DIRECTOR OF THE BUREAU SHALL RELEASE
THE BOND IN ACCORDANCE WITH THE PROVISIONS SET FORTH
IN THIS SUBTITLE. A CERTIFICATE OF DEPOSIT IS
ACCEPTABLE INSTEAD OF A CORPORATE SURETY IF THE
CERTIFICATE OF DEPOSIT IS IN AN AMOUNT EQUIVALENT TO
THE REQUIRED BOND, ISSUED BY A BANK IN THE STATE, AND
ACCOMPANIED BY THE WRITTEN AGREEMENT OF THE BANK TO
PAY ON DEMAND TO THE STATE IN THE EVENT OF FORFEITURE.

REVISOR'S NOTE: This subsection presently appears
as Article 66C, section 667 (a) of the Code.