70.121.100 - Licensees' bond requirements. - Washington Statutes

Licensees' bond requirements.

The secretary or the secretary's duly authorized representative shall require the posting of a bond by licensees to be used exclusively to provide funds in the event of abandonment, default, or other inability of the licensee to meet the requirements of the department. The secretary may establish bonding requirements by classes of licensees and by range of monetary amounts. In establishing these requirements, the secretary shall consider the potential for contamination, injury, cost of disposal, and reclamation of the property. The amount of the bond shall be sufficient to pay the costs of reclamation and perpetual maintenance.

[1987 c 184 § 5; 1979 ex.s. c 110 § 10.]

Notes: Effective date -- 1979 ex.s. c 110: See note following RCW 70.121.010.