California Code of Regulations
Title 14 - Natural Resources
Division 2 - Department of Conservation
Chapter 8 - Mining and Geology
Subchapter 1 - State Mining and Geology Board
Article 11 - Financial Assurance Mechanisms
Section 3803.2 - Irrevocable Letters of Credit

Universal Citation: 14 CA Code of Regs 3803.2
Current through Register 2024 Notice Reg. No. 38, September 20, 2024

Irrevocable Letters of Credit submitted as a Financial Assurance Mechanism shall be provided only from a financial institution authorized to do business in the State of California. The Irrevocable Letter of Credit shall be on, or attached to, the financial institution's letterhead and include the text on form ILoC-1 (3/24), which is hereby incorporated by reference. Non-substantial changes to the text of form ILoC-1 (3/24) may be made to accommodate the financial institution's business practices with respect to Irrevocable Letters of Credit, but shall not conflict with or materially alter form ILoC-1 (3/24) subject to the procedures set forth in Public Resources Code section 2773.4, subdivisions (e)(2)(A) and (B).

Note: Authority cited: Sections 2755, 2773.1 and 2773.4, Public Resources Code. Reference: Sections 2773.1(a)(1) and 2773.4(e)(3), Public Resources Code.

Note: Authority cited: Sections 2755, 2773.1 and 2773.4, Public Resources Code. Reference: Sections 2773.1(a)(1) and 2773.4(e)(3), Public Resources Code.

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