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(a) A coal lease bond is required before a lease is issued, and in no case may the amount be less than $5 per acre or $5,000, whichever is greater.
(b) A coal lease bond must be filed in accordance with 11 AAC 82.600.
(c) The commissioner will not consent to termination of liability under a coal lease bond unless an acceptable substitute bond has been filed or until all terms and conditions of the lease have been fulfilled.
History: Eff. 9/5/74, Register 51; am 6/18/82, Register 82
Authority: AS 38.05.020
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Last modified 7/05/2006