Laserfiche WebLink
r <br />Page 99 <br />Construction Materials Rule 4 <br />4.14 IMPAIRMENT OF FINANCIAL WARRANTIES <br />117(6)(a) (1) Each Financial Wazrantor providing proof of financial <br />responsibility in a form described in Subsections 4.3.6, 43.7, 4.3.8, 4.3.9, and <br />4.3.10 shall notify the Board within sixty days (60) of any net loss incurred in <br />any quarterly period. <br />117(6)(d) (2)- Whenever the Boazd receives a notice under Paragraph 4.14(1) <br />or fails to receive a certification or a substitute Wazranty as required by <br />Paragraph 4.1.2(5), or otherwise has reason to believe that a Financial Warranty <br />has been materially impaired, it may convene a hearing for the purpose of <br />determining whether impairment has in fact occurred. <br />117(6)(e) (3) Whenever. the Board elects to convene a hearing pursuant to. <br />Paragraph 4.14(2), it may hire an independent consultant to provide expert <br />advice at the hearing. The fees for any.such consultant shall be paid by the <br />Financial Wazrantor, and no consultant shall be hired until the Financial <br />Warrantor signs a written fee. agreement in such form as the Board may <br />prescribe. In the event that a Financial Warrantor refuses to sign-such ap <br />agreement, the-Board may, without hearing, order the Financial Warrantor to <br />provide an alternate form of Financial Warranty. <br />117(6)(0 (4) At any such hearing, if the Board fmds that a Financial Warranty <br />has been materially impaired, it may order the Financial Warrantor to provide <br />an alternate form of Financial Warranty. <br />117(6)(g) (5) AFinancial Warrantor shall have ninety (90) days to provide an <br />alternate warranty required under Pazagraph 4.14(4). <br />4.15 RELEASE OF WARRANTIES -EXPLORATION OPERATIONS <br />113(5) <br />117(5) 4.15.1 Operator Application For Release of Warranties <br />(1) Any person providing the Boazd or Office with an Exploration <br />Notice of Intent and Financial Warranties therefor, shall, upon the completion <br />of reclamation, submit to the Office by Certified Mail and sepazate from other <br />