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(a) No miner or surety is entitled to receive interest on any sum deposited into the bonding pool.
(b) The bonding pool, including any accrued interest, may be used by the department only to pay the reclamation costs that have not been paid by the miner or the miner's surety despite the department's reasonable efforts to recover the costs from the miner and the miner's surety. Reclamation funded from the bonding pool will be performed to the standard of AS 27.19.020 and 11 AAC 97.200 - 11 AAC 97.250. The commissioner will, in his or her discretion, use money in the bonding pool for reclamation in accordance with AS 27.19, except that the commissioner will not use a refundable deposit to fulfill another miner's reclamation obligation. The commissioner has no obligation or authority under AS 27.19 to undertake reclamation expenditures beyond the disbursable balance of the bonding pool.
History: Eff. 7/30/92, Register 123
Authority: Sec. 2, ch. 92, SLA
1990
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Last modified 7/05/2006