| 1 | Representative(s) Williams offered the following: |
| 2 |
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| 3 | Amendment |
| 4 | Remove lines 142 through 152, and insert: |
| 5 | bonding provision set forth in 30 C.F.R. s. 800.23. |
| 6 |
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| 7 | The form and content of all financial responsibility mechanisms |
| 8 | shall be approved by the department. When utilizing an |
| 9 | irrevocable letter of credit, performance bond, or guarantee |
| 10 | bond, all payments made thereunder shall be deposited into a |
| 11 | stand-by trust fund established contemporaneously with the |
| 12 | posting of the financial assurance instrument. All trust fund |
| 13 | agreements and stand-by trust fund agreements shall provide that |
| 14 | distributions therefrom will be made only at the request of the |
| 15 | department and that the trustees of such funds shall be either a |
| 16 | national banking institution or a state-regulated trust company. |