5 AAC 95.950. Bonding or security

(a) The commissioner will, in his or her discretion, require a performance bond with a surety company authorized to transact business in Alaska, or other specified security to secure the performance of the terms and conditions of a permit issued under this chapter.

(b) A performance bond or security required under (a) of this section is limited to an amount reasonably necessary to ensure compliance with the provisions of this chapter or the terms and conditions of a permit issued under this chapter.

(c) The commissioner will inspect or review actions taken under each applicable term or condition of a permit issued under this chapter, and will make a written finding that each applicable term and condition of the permit has been completed, before the permittee's performance bond or security is released.

(d) The posting of a performance bond or the taking of other security under (a) of this section does not limit the department's right, under applicable law, to seek further compensation from the permittee for actual damages to fish or wildlife, or their habitats, or for a violation of the permit.

History: Eff. 6/5/86, Register 98

Authority: AS 16.05.020

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