SECTION 12.317. Determination of Forfeiture Amount

The Commission shall forfeit the amount of the bond for which liability is outstanding and deposit the proceeds thereof in an interest-bearing escrow account for use in the payment of all costs and administrative expenses associated with the conduct of reclamation activities by the Commission.

(1) If the estimated amount forfeited is insufficient to pay for the full cost of reclamation, the operator shall be liable for remaining costs. The Commission may complete, or authorize completion of, reclamation of the bonded area and may recover from the operator all costs of reclamation in excess of the amount forfeited.

(2) Funds forfeited, including interest accrued, but not used to contract for completion of reclamation work, as indicated in this section, shall be returned by the Commission after reclamation operations have been completed.

Source Note: The provisions of this §12.317 adopted to be effective April 7, 1997, 22 TexReg 3093.