40-6-19.   Bond and Surety Forfeiture Trust Fund created -- Contents -- Use of fund monies.
     (1) There is created a private-purpose trust fund known as the "Bond and Surety Forfeiture Trust Fund."
     (2) Monies collected by the Division of Oil, Gas and Mining as a result of bond or surety forfeitures shall be deposited in the fund.
     (3) Interest earned on monies in the fund shall accrue to the fund.
     (4) (a) Money from each forfeited bond or surety, together with interest, shall be used by the Division of Oil, Gas and Mining to accomplish the requisite performance standards under the program to which the forfeited bond or surety corresponds.
     (b) Any money not used for a project shall be returned to the rightful claimant.

Amended by Chapter 256, 2002 General Session
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Last revised: Wednesday, October 08, 2008