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(2) A corporation applying for a self -bond, and a parent or non -parent corporation guaranteeing an applicant's self - <br />bond shall submit an indemnity agreement signed by two corporate officers who are authorized to bind their <br />corporation. A copy of such authorization shall be provided to the chief along with an affidavit certifying that such <br />an agreement is valid under all applicable federal and state laws. In addition, the guarantor shall provide a copy of <br />the corporate authorization demonstrating that the corporation may guarantee the self -bond and execute the <br />indemnity agreement. <br />(3) A limited liability company shall submit an indemnity agreement signed by at least one member who is <br />authorized to bind the company. A copy of such authorization shall be provided to the chief along with an affidavit <br />certifying that such an agreement is valid under all applicable federal and state laws. <br />(4) A partnership, joint venture or syndicate shall submit an indemnity agreement that binds each partner or party <br />who has a beneficial interest, directly or indirectly, in the applicant. <br />(5) Pursuant to rule 1501:13-7-06 of the Administrative Code, the applicant or parent or non -parent corporate <br />guarantor shall be required to complete the approved reclamation plan for the lands in default or to pay to the chief <br />an amount necessary to complete the approved reclamation plan, not to exceed the performance security amount <br />required under rule 1501:13-7-02 of the Administrative Code. The indemnity agreement shall be confessed to <br />judgment to the amount of the bond as provided in section 2323.13 of the Revised Code. <br />(G) The chief may require self -bonded applicants and parent and non -parent corporate guarantors to submit an <br />update of the information required under paragraphs (13)(3) and (13)(4) of this rule within ninety days after the close <br />of each fiscal year following the issuance of the self -bond or corporate guarantee. <br />(H) If at any time during the period when a self -bond is provided, the financial conditions of the applicant or parent <br />or non -parent corporate guarantor change so that the criteria of paragraphs (13)(3) and (D) of this rule are not <br />satisfied, the permittee shall notify the chief immediately and shall within ninety days provide an alternate form of <br />performance security in the same amount as the self -bond. Should the permittee fail to provide an adequate <br />substitute performance security pursuant to rule 1501:13-7-03 of the Administrative Code, then the permittee or <br />operator shall cease coal extraction and shall immediately begin to conduct reclamation operations in accordance to <br />the reclamation plan. Mining operations shall not resume until the chief has determined that an acceptable <br />performance security has been provided. <br />Effective: 04/30/2009 <br />R.C. 119.032 review dates: 02/06/2009 and 04/20/2014 <br />Promulgated Under: 119.03 <br />Statutory Authority: 1513.02 <br />Rule Amplifies: 1513.08 <br />Prior Effective Dates: 5/18/81, 10/27/82, 10/1/88, 12/27/90 <br />A.5 — Pennsylvania <br />from section 86.159 (f)) <br />(f) The applicant shall satisfy one of the following financial tests in paragraph (1), (2) or (3): <br />(1) The applicant satisfies the following requirements: <br />(i) A current rating for its most recent bond issuance of either: AAA, AA or A as issued by Standard and Poor's <br />Corporation; or Aaa, Aa or A as issued by Moody's Investor Services. The ratings may not have been assigned as a <br />result of the bond issue being independently insured. <br />