11 AAC 84.790. Bond

(a) For any geothermal operation under a prospecting permit or lease, a surface-damage bond is required in the amount of at least $10 per acre or $10,000, whichever is greater.

(b) The bond required under (a) of this section will be released upon the following conditions:

(1) the expiration or relinquishment of a geothermal prospecting permit or lease; and

(2) the rehabilitation of the prospecting permit area or the lease area to the satisfaction of the commissioner.

(c) The commissioner will, in his or her discretion, after notice to the holder of a geothermal prospecting permit or lease and a reasonable opportunity for the holder to be heard, require a bond in a reasonable amount greater than the amount specified in (a) of this section, if a greater amount is justified by the nature of the surface and its uses and by the degree of risk involved in the types of operations carried out under a prospecting permit or lease.

(d) Except for unit bonds under 11 AAC 84.940, statewide bonds do not satisfy the requirements of a bond imposed by (a) of this section but they may be considered by the commissioner in determining the need for and the amount of any additional bond under (c) of this section.

History: Eff. 8/22/82, Register 83; am 3/30/84, Register 89

Authority: AS 38.05.020

The Alaska Administrative Code was automatically converted to HTML from a plain text format. Every effort has been made to ensure its accuracy, but neither Touch N' Go Systems nor the Law Offices of James B. Gottstein can be held responsible for any possible errors. This version of the Alaska Administrative Code is current through June, 2006.

If it is critical that the precise terms of the Alaska Administrative Code be known, it is recommended that more formal sources be consulted. Recent editions of the Alaska Administrative Journal may be obtained from the Alaska Lieutenant Governor's Office on the world wide web. If any errors are found, please e-mail Touch N' Go systems at E-mail. We hope you find this information useful. Copyright 2006. Touch N' Go Systems, Inc. All Rights Reserved.