208.24 - SINGLE BOND FOR MULTIPLE SITES. - Iowa Statutes

208.24 SINGLE BOND FOR MULTIPLE SITES. An operator who registers with the division two or more mine sites may elect, at the time the second or a subsequent site is registered, to post a single bond in lieu of separate bonds on each site. A single bond so posted shall be in an amount equal to the estimated cost of reclaiming all sites the operator has registered, determined as provided in section 208.23. The penalty of a single bond on two or more mine sites may be increased or decreased from time to time in accordance with sections 208.14, 208.15, and 208.19. When an operator elects to post a single bond in lieu of separate bonds previously posted on individual sites, the separate bonds shall not be released until the new bond has been accepted by the division.          Section History: Early Form [C71, 73, 75, 77, 79, 81, § 83A.24]          Section History: Recent Form 85 Acts, ch 137, §19 C93, § 208.24 96 Acts, ch 1043, §16 Referred to in § 208.14