Alaska Administrative Code
Title 11 - Natural Resources
Part 6 - Lands
Chapter 96 - Miscellaneous Land Use
Article 1 - Provisions for General Land Use Activity
11 AAC 96.060 - Performance guaranty

Universal Citation: 11 AK Admin Code 96.060

Current through August 30, 2024

(a) Unless the department waives the requirement after considering the applicant's history of compliance and the potential risk to the state, the applicant shall furnish security acceptable to the department. The department may accept as security

(1) a personal bond accompanied by
(A) an irrevocable letter of credit issued by a bank or other financial institution authorized to do business in the United States;

(B) a certificate of deposit in the amount of the bond issued in sole favor of the department by a bank or other financial institution authorized to do business in this state; or

(C) a cash deposit maintained in a depository account as directed by the commissioner;

(2) a corporate surety bond from a surety company authorized to do business in this state; or

(3) other security acceptable to the department.

(b) Security furnished in accordance with (a) of this section must be conditioned upon compliance with all terms of the permit. The department will determine the amount of the security, if required, based on the scope and nature of the activity planned and the potential cost of restoring the permit site. A permit that requires security will not be issued until acceptable security has been furnished.

Authority:AS 38.05.020

AS 38.05.035

AS 38.05.850

Disclaimer: These regulations may not be the most recent version. Alaska may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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