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Texas Natural Resources Code

§ 131.205 — SECURITY FOR BOND

NR § 131.205Title 4. MINES AND MINING · Ch. 131. URANIUM SURFACE MINING AND RECLAMATION ACT · Art. E. BONDS AND DEPOSITS

Statute text

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(a)The bond shall be executed by the operator and a corporate surety licensed to do business in this state, or the operator may elect to deposit cash or negotiable securities acceptable to the commission, or an assignment of a savings account in a Texas bank on an assignment deposit form prescribed by the commission's rules.
(b)A cash deposit or market value of the substitute collateral shall be equal to or greater than the amount of the bond required for the bonded area.
(c)Cash or other substitute collateral shall be deposited on the same terms as the terms on which surety bonds may be deposited.

Legislative history

Acts 1977, 65th Leg., p. 2627, ch. 871, art. I, Sec. 1, eff. Sept. 1, 1977.

Source: Texas Natural Resources Code § 131.205 from the Texas Constitution and Statutes (Texas Legislature) (public record). DecisionDepot is for informational use only and is not legal advice — verify against the official source before relying on this text.