Sec. 0.5. As used in this chapter, “collateral” means the actual or constructive deposit, as appropriate, with the director of one (1) or more of the following types of property in support of a self-bond: (1) A perfected, first-lien security interest in favor of the department of natural resources in real property located in Indiana […]
Sec. 0.6. As used in this chapter, “comparative balance sheet” means item accounts from a number of the operator’s successive yearly balance sheets arranged side by side in a single statement. As added by P.L.176-1995, SEC.9.
Sec. 0.7. As used in this chapter, “comparative income statement” means an operator’s income statement amounts for a number of successive yearly periods arranged side by side in a single statement. As added by P.L.176-1995, SEC.10.
Sec. 1. As used in this chapter, “liabilities” means obligations to transfer assets or provide services to other entities in the future as a result of past transactions. The term does not include amounts that are required to be recorded for financial accounting purposes under Statement of Financial Accounting Standards number 106 issued by the […]
Sec. 10. (a) An applicant shall submit, in addition to the financial information required under section 4 of this chapter, a report prepared by a qualified independent public accounting consultant selected from a list of public accounting consultants approved by the director. The director shall consider the information in the report when deciding whether to […]
Sec. 11. (a) The director may not accept an applicant’s self-bond under this chapter in an increment unless, when the self-bond is initially approved under this chapter, the total area of the increment is one hundred percent (100%) self-bonded. (b) When a self-bond is initially accepted from a permit applicant under this chapter, the self-bond […]
Sec. 12. (a) If a permittee who posted a self-bond under this chapter does not file an application for a Phase I grading release with the department before the second November 1 after the year in which the coal was removed from the site covered by the self-bond, the permittee shall replace the self-bond with […]
Sec. 13. For purposes of IC 1-1-1-8, if the amendments to IC 14-34-7-1, as amended by SEA 125-1995, are held invalid or otherwise unenforceable, the other amendments to IC 14-34-7 made by SEA 125-1995 are also void. As added by P.L.176-1995, SEC.23.
Sec. 2. As used in this chapter, “net worth”: (1) means: (A) total assets; minus (B) total liabilities; and (2) is equivalent to owners’ equity. [Pre-1995 Recodification Citation: 13-4.1-6.3-6.] As added by P.L.1-1995, SEC.27.
Sec. 2.5. As used in this chapter, “Surface Mining Control and Reclamation Act” means the federal Surface Mining Control and Reclamation Act of 1977 (30 U.S.C. 1201 through 1328). As added by P.L.176-1995, SEC.12.
Sec. 3. As used in this chapter, “tangible net worth” means: (1) net worth; minus (2) intangibles such as goodwill and rights to patents or royalties. [Pre-1995 Recodification Citation: 13-4.1-6.3-7.] As added by P.L.1-1995, SEC.27.
Sec. 4. (a) As used in this section, “current assets” means cash or other assets or resources that are reasonably expected to be converted to cash or sold or consumed within: (1) one (1) year; or (2) the normal operating cycle of the business. (b) As used in this section, “current liabilities” means: (1) obligations […]
Sec. 4.1. (a) Before January 1, 1996, all self-bonds in effect on July 1, 1995, must be replaced in one (1) of the following ways: (1) The self-bond may be replaced by another form of bond allowed under IC 13-4.1-6. (2) The self-bonded permittee may reapply for self-bonding under this chapter. (b) If the application […]
Sec. 5. (a) A written guarantee accepted under this section is referred to as a “corporate guarantee”. (b) The director may accept a corporate guarantee for an applicant’s self-bond from a corporate guarantor if, at the time the self-bond is accepted, the following conditions are met: (1) The guarantee is in writing. (2) The applicant […]
Sec. 6. (a) For the director to accept an applicant’s self-bond, the total amount of the outstanding and proposed self-bonds of the applicant for surface coal mining and reclamation operations in the United States may not exceed twenty-five percent (25%) of the applicant’s tangible net worth in the United States. (b) For the director to […]
Sec. 7. If the director accepts an applicant’s self-bond, an indemnity agreement shall be submitted to the director. The indemnity agreement must meet the following requirements: (1) The indemnity agreement must provide in express terms that the persons or parties bound by the agreement are liable to the director for all costs incurred by the […]
Sec. 7.1. (a) If an application for self-bonding is rejected based on the information required by section 4 of this chapter or limitations set forth in section 4 of this chapter, the applicant may offer collateral (as defined in section 0.5 of this chapter) and an indemnity agreement to support the applicant’s self-bond application. An […]
Sec. 8. The director shall require self-bonded applicants and corporate guarantors to submit: (1) an update of the information required under section 4(d)(7), 4(d)(8), and 4(f) of this chapter within ninety (90) days after the close of each fiscal year; and (2) information required under section 4(d)(8)(B) of this chapter on a quarterly basis not […]
Sec. 9. (a) If at any time during the period when a self-bond is posted, the financial conditions of the applicant or the corporate guarantor change so that the criteria of sections 4(d)(7), 4(f), and 6 of this chapter are no longer satisfied, the permittee shall do the following: (1) Notify the director immediately. (2) […]
