LAC 43:XV.4707. Determination of Forfeiture Amount

A. The office shall either: 1. determine the amount of the bond to be forfeited on the basis of the estimated cost to the office or its contractor to complete the reclamation plan and other regulatory requirements in accordance with the Act, these regulations and the requirements of the permit; or 2. forfeit the entire amount of the bond for which liability is outstanding and deposit the proceeds thereof in an interest-bearing escrow account for use in the payment of all costs and administrative expenses associated with the conduct of reclamation, restoration or abatement activities by the office. In the event the amount of performance bond forfeited was more than the amount necessary to complete reclamation, the unused funds shall be returned by the office to the party from whom they were collected.