30.201 Financial assurance for nonmetallic mining. - Wisconsin Statutes

30.201

30.201 Financial assurance for nonmetallic mining.

30.201(1)

(1) If the department requires that financial assurance be provided as a condition for a permit under s. 30.19, 30.195, or 30.20 or for a contract under s. 30.20 for nonmetallic mining and reclamation, the financial assurance may be a bond or alternative financial assurance. An alternative financial assurance may include cash or any of the following:

30.201(1)(a)

(a) A certificate of deposit.

30.201(1)(b)

(b) An irrevocable letter of credit.

30.201(1)(c)

(c) An irrevocable trust.

30.201(1)(d)

(d) An escrow account.

30.201(1)(e)

(e) A government security.

30.201(1)(f)

(f) Any other demonstration of financial responsibility.

30.201(2)

(2) Any interest earned by the financial assurance shall be paid to the person operating the nonmetallic mining or reclamation project.

30.201 - ANNOT.

History: 2003 a. 118.