R 425.304 Surety bond.

Rule 304. (1) Subject to R 425.301, an operator may satisfy all or a portion of the financial assurance requirements by obtaining a surety bond that is executed on a form approved by the department and that conforms to the requirements of this rule. The surety company issuing the surety bond shall, at a minimum, be among those listed as acceptable sureties on federal bonds in circular 570 of the United States department of the treasury. (2) The surety company shall not be liable for deficiencies in the performance of reclamation, remediation, and postclosure monitoring, by the permittee after the department releases the surety bond or releases the permittee from the requirements of part 632 of the act.