California Public Resources Code

§ 2773.1

PRC § 2773.1 Effective Jan 1, 2018Div. 2 · Ch. 9 · Art. 5

Statute text

(a)Lead agencies shall require financial assurances of each surface mining operation to ensure reclamation is performed in accordance with the surface mining operation’s approved reclamation plan, as follows:

(1)A financial assurance mechanism may take the form of surety bonds executed by an admitted surety insurer, as defined in subdivision (a) of Section 995.120 of the Code of Civil Procedure, irrevocable letters of credit, trust funds, or other forms of financial assurance mechanisms specified by the board pursuant to subdivision (e) that the lead agency reasonably determines are adequate to perform reclamation in accordance with the surface mining operation’s approved reclamation plan.

(2)Financial assurances shall remain in effect for the duration of the surface mining operation and any additional period until reclamation is completed.

…

Legislative history

Amended by Stats. 2017, Ch. 521, Sec. 38. (SB 809) Effective January 1, 2018.