Section 287.361. Replacement of existing bond

(a) The Department may allow an operator to replace an existing surety or collateral bond with another surety or collateral bond, if liability which has accrued against the bond, the operator and the facility is transferred to the replacement bond. The replacement bond shall include an endorsement by the operator acknowledging the retroactivity of the liability to the date of issue of the original residual waste management permit or a prior date determined by the Department. The bond amount for this replacement bond will be determined under this subchapter, but may not be less than the amount on deposit with the Department.

(b) The Department will not release existing bonds until the operator has submitted and the Department has approved acceptable replacement bonds. A replacement of bonds under this section does not constitute a release of bond under this subchapter.

Notation

Cross References

This section cited in 25 Pa. Code § 287.321 (relating to special terms and conditions for surety bonds).