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Ch. 612
LAWS OF MARYLAND
(II) CASH DEPOSITED UNDER THIS SECTION SHALL BE
NOT LESS THAN THE AMOUNT SPECIFIED IN PARAGRAPH (1)(I) OF THIS
SUBSECTION; AND
(III) THE MARKET VALUE OF OTHER SECURITY
DEPOSITED UNDER THIS SECTION SHALL BE NOT LESS THAN THE AMOUNT
SPECIFIED IN PARAGRAPH (1)(I) OF THIS SUBSECTION.
(2) FOR AN INCINERATOR OR TRANSFER STATION, THE
DEPARTMENT SHALL ESTABLISH THE AMOUNT OF THE SECURITY REQUIRED BY
THIS SECTION.
(E) EXECUTION OF BOND.
BOTH THE APPLICANT FOR A PERMIT AND A CORPORATE SURETY
LICENSED TO DO BUSINESS IN THIS STATE SHALL EXECUTE ANY BOND
FILED UNDER THIS SECTION.
(F) DURATION OF LIABILITY.
(1) EXCEPT AS PROVIDED IN PARAGRAPH (2) OF THIS
SUBSECTION, THE TERM OF ANY BOND FILED UNDER THIS SECTION AND THE
TIME DURING WHICH CASH OR OTHER SECURITY MUST REMAIN ON DEPOSIT
UNDER THIS SECTION IS:
(I) THE DURATION OF THE OPERATION OF THE
LANDFILL, INCINERATOR, OR TRANSFER STATION; AND
(II) AN ADDITIONAL 5 YEARS AFTER THE CLOSING OF
THE LANDFILL, INCINERATOR, OR TRANSFER STATION.
(2) IF THE HOLDER OF A PERMIT FOR A LANDFILL,
INCINERATOR, OR TRANSFER STATION SUBMITS TO THE DEPARTMENT THE
DEPARTMENT HAS ASSURANCES THAT THE LANDFILL, INCINERATOR, OR
TRANSFER STATION HAS BEEN CLOSED IN A MANNER THAT PREVENTS
EROSION, HEALTH AND SAFETY HAZARDS, NUISANCES, AND POLLUTION, THE
DEPARTMENT MAY RELEASE THE SECURITY FILED OR DEPOSITED UNDER THIS
SECTION BEFORE THE END OF THE 5-YEAR PERIOD SPECIFIED IN
PARAGRAPH (1)(II) OF THIS SUBSECTION.
(G) CONDITIONS UNDER WHICH SECURITY IS FORFEITED; USE OF
BOND PROCEEDS, CASH, OR PROCEEDS OF OTHER SECURITY.
(1) THE OBLIGATION OF THE HOLDER OF A PERMIT FOR A
LANDFILL, INCINERATOR, OR TRANSFER STATION AND OF ANY CORPORATE
SURETY UNDER THE BOND SHALL BECOME DUE AND PAYABLE AND ANY ' CASH,
SECURITIES, OR BOND PROCEEDS SHALL BE APPLIED TO PAYMENT OF THE
COSTS OF PROPERLY CLOSING A LANDFILL, INCINERATOR, OR TRANSFER
STATION ONLY IF THE DEPARTMENT:
(I) NOTIFIES THE PERMIT HOLDER AND ANY
CORPORATE SURETY ON THE BOND THAT THE LANDFILL, INCINERATOR, OR
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