Okla. Admin. Code § 460:10-21-5

Current through Vol. 42, No. 1, September 16, 2024

Section 460:10-21-5 - Department responsibilities

(a) The Department shall prescribe and furnish forms for filing performance bonds.

(b) The Department shall prescribe terms and conditions for performance bonds.

(c) The Department shall determine the amount of the performance bond required for the permit area, including adjustments to the initial amount from time to time as land acreage in the permit area are revised, or when other relevant conditions change according to the minimum requirements of Section 460:10-23-2.

(d) The Department shall release the permittee from his bond requirements consistent with Subchapter 27 of this Chapter.

(e) The Department shall cause all or part of a bond to be forfeited consistent with Subchapter 29 of this Chapter.

Okla. Admin. Code § 460:10-21-5