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(ii) Tangible net worth at least six times the total amount of outstanding and proposed self -bonds for coal mining <br />activities in this Commonwealth. <br />(iii) Assets in the United States amounting to at least 90% of total assets. <br />(2) The applicant satisfies the following requirements: <br />(i) Tangible net worth of at least $10 million. <br />(ii) A ratio of total liabilities to net worth of 2.5 times or less and a ratio of current assets to current liabilities of 1.2 <br />times or greater. <br />(iii) Tangible net worth at least six times the total amount of outstanding and proposed self -bonds for coal mining <br />activities in this Commonwealth. <br />(iv) Assets in the United States amounting to at least 90% of total assets. <br />(3) The applicant satisfies the following requirements: <br />(i) Possesses fixed assets in the United States of at least $20 million. <br />(ii) Has a ratio of total liabilities to net worth of 2.5 times or less and a ratio of current assets to current liabilities of <br />1.2 times or greater. <br />(iii) Has tangible net worth at least six times the total amount of outstanding and proposed self -bonds for coal <br />mining activities in this Commonwealth. <br />(iv) Has assets in the United States amounting to at least 90% of total assets. <br />A.6 — Texas <br />16 Texas Administrative Code §12.3090) <br />0) Self -bonding. <br />(1) Definitions. For the purposes of this subsection only: <br />(A) Current assets- Cash or other assets or resources which are reasonably expected to be <br />converted to cash or sold or consumed within one year or within the normal operating cycle of the <br />business. <br />(B) Current liabilities- Obligations which are reasonably expected to be paid or liquidated <br />within one year or within the normal operating cycle of the business. <br />(C) Fixed assets- Plants and equipment, but does not include land or coal in place. <br />(D) Governmental entity- Municipal corporation, political subdivision, or public agency of the <br />State of Texas. <br />(E) Liabilities- Obligations to transfer assets or provide services to other entities in the future <br />as a result of past transactions. <br />