1128

LAWS OF MARYLAND

Ch. 391

the number of acres of land [affected and for not less than
$3,000] PERMITTED. The liability of the operator under the
bond shall be for the duration of open-pit mining [at each]
operation and for a period COINCIDENTAL WITH THE OPERATOR'S
RESPONSIBILITY UNDER § 7-511. [of five years thereafter,
unless he is released prior to that time or his liability is
extended for a longer period in a portion reserved for
haulage ways, deep mining, or auger mining locations as
provided in § 7-509 (b) of this subtitle. The bond shall be
executed by the operator and a corporate surety licensed to
do business in the State. Instead of a corporate surety,
either of the following is acceptable:]

(C)  ALL BONDS REQUIRED BY THIS SECTION SHALL BE ON A
FORM PROVIDED BY THE DEPARTMENT, SHALL BE PAYABLE TO THE
STATE OF MARYLAND AND SHALL BE EXECUTED BY THE OPERATOR AND
A CORPORATE SURETY LICENSED TO DO BUSINESS IN THE STATE.
INSTEAD OF A CORPORATE SURETY, EITHER OF THE FOLLOWING IS
ACCEPTABLE:

(1)  A deposit of cash or negotiable bonds of the
United States government. The cash deposit or market value
of the securities shall be at least equal to the required
sum of the bond. On receipt of a deposit of cash or
securities, the [director] DEPARTMENT immediately shall
place it with the State Treasurer, who shall receive and
hold the deposit in trust, in the name of the State for the
purposes for which it is made. The State Treasurer is
responsible for the custody and safekeeping of the deposit.
The operator, making the deposit, may demand and receive
from the State Treasurer all or any portion of any deposited
securities, if he replaces them with other negotiable
securities of the class specified as having a market value
at least equal to the sum of the bond; or

(2)  A certificate of deposit in an amount
equivalent to the required bond, issued by a bank in the
State, and accompanied by written agreement of the bank to
pay on demand to the State in the event of forfeiture.

(D)  THE AMOUNT OF THE BONDS REQUIRED BY THIS SECTION
SHALL BE SUFFICIENT TO ASSURE COMPLETION OF THE RECLAMATION
PLAN BY THE DEPARTMENT IN THE EVENT OF FOREFEITURE AND IN NO
CASE MAY THE BONDS REQUIRED FOR ANY PERMIT BE LESS THAN
$10,000.

[(b)] (E) The operator shall post an additional bond
prior to commencing operations on any additional acreage
exceeding that covered by the original [bond made in the
application for a] permit PROVIDED THE ADDITIONAL ACREAGE IS
COVERED IN AN APPLICATION PREVIOUSLY SUBMITTED AND APPROVED
IN ACCORDANCE WITH THIS SUBTITLE. On receipt of the
additional bond [and material which would have been required
for the additional plan had it been included in the original
application to secure the permit,] the [Director] DEPARTMENT
shall issue [promptly] an amended permit FOR [including] the
acreage covered by the additional bond.