Each blanket bond for wells created, modified, or acquired during the duration of a bond that was accepted by the commission before March 11, 1971, must be replaced by a new blanket bond in the amount of thirty thousand dollars ($30,000) before January 2, 2002. The new replacement bond remains in effect until:(1) the:(A) owner or operator plugs and abandons each well covered under the blanket bond in accordance with:(i) this article; and(ii) rules adopted under this article; and(B) bond is released by the department; or(2) a substitute bond is accepted by the department for each well secured by the blanket bond.[Pre-1995 Recodification Citation: 13-8-8-3.]As added by P.L.1-1995, SEC.30. Amended by P.L.236-2001, SEC.1.
Indiana Legal Code