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WACs > Title 332 > Chapter 332-16 > Section 332-16-105











332-16-095    

332-16-115







No agency filings affecting this section since 2003







WAC 332-16-105









Performance security.









The department may, at its option, require the lessee to file a cash bond, savings account assignment, approved corporate surety bond or other form of security satisfactory to the department in an amount sufficient to guarantee performance of the terms and conditions of the lease or contract. Such security, if required, shall be submitted prior to the commencement of prospecting or mining operations. The department may reduce or increase the amount of the security as a result of operational changes requiring different levels of performance. The department may allow a lessee to file a single security device, acceptable to the state, in an amount set by the department covering all of the lessee's state leases.
[Statutory Authority: RCW 79.01.618. WSR 87-21-007 (Order 528), § 332-16-105, filed 10/9/87.]