45-6-71. Security required--Amount--Conditions--Alternatives. Prior to the commencement of mining, an operator shall submit to the Board of Minerals and Environment a surety in the amount of five hundred dollars per acre of affected land. In lieu of filing a surety for each operation, the operator may post a twenty thousand dollar surety for statewide mining of sand, gravel, or rock to be crushed and used in construction. If a corporate surety bond is required, the bond shall be signed by the operator as principal and by a surety insurer certified under chapter 58-21. In lieu of the required surety, the operator may deposit cash or a certificate of deposit made payable to the individual and to the board or government securities with the board in an amount equal to that of the required surety. The surety shall remain in effect until the affected land has been reclaimed, the reclamation is approved by the board and the surety is released by the board.
Source: SL 1983, ch 308, § 9.
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