Minnesota Administrative Rules
Agency 183 - Water and Soil Resources Board
Chapter 8420 - WETLAND CONSERVATION
WETLAND BANKING
Part 8420.0755 - BANK ACCOUNT ADMINISTRATION
Universal Citation: MN Rules 8420.0755
Current through Register Vol. 49, No. 27, December 30, 2024
Subpart 1. Account information.
A. For each wetland bank site, the board
shall maintain at least the following information:
(1) the fee owner's name, address, and
telephone number;
(2) the location,
including public land survey coordinates, local government unit, county, major
watershed, and bank service area;
(3) replacement acres by amount and
replacement action, the restoration or creation date, and bank acceptance
date;
(4) withdrawals made from the
bank site including, for each impacted wetland, the amount of wetland; fee
owner, address, telephone number; and public land survey coordinates, local
government unit, county, and watershed; and
(5) the original copy of the recorded
conservation easement for the site and a title insurance policy naming the
state as an insured party.
B. The board shall provide the following
information to persons inquiring about available bank credits within a local
government unit, county, major watershed, or bank service area:
(1) account holder name, address, telephone
number, and e-mail address, if available;
(2) acres or square feet of available credit;
and
(3) location by section,
township, range, county, major watershed, and bank service area.
Subp. 2. Administrative fees.
The board may collect administrative fees for managing bank accounts. The following fees must be paid to the board to be used for administering and monitoring the wetland bank:
A. account maintenance annual fee: one
percent of the value of credits not to exceed $500 for any year the account is
active;
B. account deposit or
transfer: 6.5 percent of the value of credits not to exceed $1,000 per deposit
or transfer; and
C. withdrawal fee:
6.5 percent of the value of credits withdrawn.
Subp. 3. Audit.
The board may periodically inspect wetland bank records and correspondence maintained by a local government unit to determine compliance with this part.
Statutory Authority: MS s 103G.2242
Disclaimer: These regulations may not be the most recent version. Minnesota 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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