Administrative Rules of Montana
Department 17 - ENVIRONMENTAL QUALITY
Chapter 17.86 - ENERGY
Subchapter 17.86.1 - Wind Generation Facility Decommissioning and Bonding
Rule 17.86.116 - SURETY BONDS
Universal Citation: MT Admin Rules 17.86.116
Current through Register Vol. 6, March 22, 2024
(1) An owner may satisfy the bonding requirements of this subchapter by submitting a surety bond that:
(a) is in an amount that does not
exceed 10 percent of the surety's capital surplus account as shown on a balance
sheet certified by a certified public accountant and submitted to the
department;
(b) is in an amount
that does not exceed three times the surety's maximum single
obligation;
(c) is issued by a
surety authorized by the Montana state auditor and listed in the United States
Department of the Treasury Circular 570;
(d) has a power of attorney attached. The
power of attorney must state that the surety has authorized the person issuing
the bond to bind it to the bond's terms;
(e) provides a requirement and a mechanism
for the surety to give prompt notice to the department and the owner of:
(i) any action alleging bankruptcy or
insolvency of the surety or a violation that would result in suspension or
revocation of the surety's authorization;
(ii) cancellation by the owner; and
(iii) cancellation or pending cancellation by
the surety; and
(f) upon
a written determination by the department that a surety is unable to comply
with the terms of the bond, the owner is deemed to be without bond. The owner
shall replace the bond within 90 days after the written determination is mailed
by the department.
AUTH: 75-26-310, MCA; IMP: 75-26-304, MCA
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