New Mexico Administrative Code
Title 19 - NATURAL RESOURCES AND WILDLIFE
Chapter 10 - NON-COAL MINING
Part 12 - FINANCIAL ASSURANCE REQUIREMENTS
Section 19.10.12.1211 - FORFEITURE OF FINANCIAL ASSURANCE
Current through Register Vol. 35, No. 18, September 24, 2024
A. If a permittee refuses or is unable to conduct or complete the reclamation or closeout plan, if the terms of the permit are not met, or if the permittee defaults on the conditions under which the financial assurance was accepted, the director shall take the following action to forfeit all or part of the financial assurance for the permit area or an increment of the permit area:
B. In the event forfeiture of the financial assurance is required by this part, the director shall:
C. Upon default of the conditions under which the financial assurance was accepted, the director may cause the forfeiture of any and all financial assurance to complete reclamation or closeout for which the financial assurance was provided. Unless specifically limited, as provided in 19.10.12.1202 NMAC, financial assurance liability shall extend to the entire disturbed area under conditions of forfeiture.
D. In the event the estimated amount forfeited is insufficient to pay for the full cost of reclamation or closeout, the permittee shall be liable for remaining costs. The director may complete, or authorize completion of, reclamation or closeout of the area in accordance with the permit terms and may recover from the permittee all reasonably incurred costs of reclamation or closeout and forfeiture in excess of the amount forfeited.
E. In the event the amount of financial assurance forfeited was more than the amount necessary to complete reclamation or closeout and all costs of forfeiture, the excess funds shall be returned by the director to the party from whom they were collected.