Section 12-E:6 Performance Bonds. - New Hampshire Statutes

   I. Upon approval of the mining and reclamation plans and prior to the issuance of a permit, the operator shall file with the commissioner a bond payable to the state of New Hampshire with sureties or other security satisfactory to the commissioner to adequately secure compliance with this chapter. In determining the amount of the bond, the character and nature of the area adjacent to the permit site, the estimated cost of reclamation and the future suitable use of the land involved shall be considered to insure the performance of the operator's duties, but in no case shall the bond be less than $1,000 per acre. The anticipated cost of the operator's reclamation duties pursuant to RSA 12-E:7 and the mining and reclamation plans shall be covered by the bond to ensure successful completion of any such reclamation activities upon default by the operator. The commissioner shall review the adequacy of the bond at least every 3 years. All proceeds of forfeited bonds or other security shall be expended by the commissioner for the reclamation of the land area for which the bond was posted with the remainder returned to the operator.
   II. A special performance bond for prospecting may be required by the commissioner whenever he determines possible injury to the land may occur when such activity is not included in the mining and reclamation plans.
   III. All bonds or portions thereof may be released when reclamation of the affected area has been completed to the satisfaction of the commissioner and in no case sooner than 3 years from its filing. Upon release of the bond, accrued interest from the bond while in possession of the state shall be paid to the operator.

Source. 1979, 467:1, eff. Aug. 24, 1979.