Wyoming Administrative Code
Agency 020 - Environmental Quality, Dept. of
Sub-Agency 0009 - Solid Waste Management
Chapter 7 - FINANCIAL ASSURANCE REQUIREMENTS
Section 7-6 - Surety Bonds
Universal Citation: WY Code of Rules 7-6
Current through September 21, 2024
Surety bonds shall comply with the following requirements:
(a) A corporate surety company shall not be considered good and sufficient for purposes of W.S. § 35-11-504 unless:
(i) The company is licensed to do business in
the state;
(ii) The bond is made
payable to the Department;
(iii)
The estimated bond amount does not exceed the limit of risk as provided for in
W.S. §
26-5-110, nor raise the total of all bonds
held by the applicant under that surety above three times the limit of risk;
and
(iv) The surety company agrees
to the following:
(A) Not to cancel the bond,
except as provided for in W.S. §
35-11-504 or where the Director gives prior
written approval of a replacement bond or financial assurance;
(B) To be jointly and severally liable with
the operator; and
(C) To provide
immediate written notice to the Director and operator once it becomes unable or
may become unable due to any action filed against it to fulfill its obligations
under the bond.
(b) The provisions applicable to cancellation of the surety's license in W.S. § 35-11-504 shall also apply if for any other reason the surety becomes unable to fulfill its obligations under the bond. Failure to comply with this provision shall result in suspension of the permit. Upon such occurrence it is the operator's responsibility to provide a substitution of financial assurance.
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