Each operator at the time of filing his application shall furnish bond on a form to be prescribed by the Director payable to the Department and conditioned that the operator shall faithfully perform all of the requirements of this chapter and of the operations plan as approved and directed by the Department. The amount of bond shall be no less than $ 200 nor more than $ 1,000 per acre, based upon the number of acres of land which the operator estimates will be affected by mining operations during the next ensuing year. The minimum amount of bond furnished shall be $ 1,000, except in areas of five acres or less the bond shall be no less than $ 200 nor more than $ 1,000 per acre. Such bond shall be executed by the operator and by a corporate surety licensed to do business in this Commonwealth; provided, however, that in lieu of such bond the operator may deposit cash or collateral security acceptable to the Director.

History

1968, c. 734; 1970, c. 245; 1972, c. 206; 1974, c. 312; 1977, c. 312.