H.B. 265

1

MINING BOND AND SURETY FORFEITURE ACCOUNT
2 1997 GENERAL SESSION
3 STATE OF UTAH
4 Sponsor: Michael R. Styler
5 AN ACT RELATING TO MINES AND MINING; CREATING A RESTRICTED ACCOUNT
6 KNOWN AS THE BOND AND SURETY FORFEITURE ACCOUNT; SPECIFYING
7 CONTENTS OF THE ACCOUNT AND USE OF ACCOUNT MONIES; AND PROVIDING
8 AN EFFECTIVE DATE.
9 This act affects sections of Utah Code Annotated 1953 as follows:
10 ENACTS:
11 40-6-19, Utah Code Annotated 1953
12 Be it enacted by the Legislature of the state of Utah:
13 Section 1. Section 40-6-19 is enacted to read:
14 40-6-19. Bond and Surety Forfeiture Account created -- Contents -- Use of account
15 monies.
16 (1) There is created within the General Fund a restricted account known as the Bond and
17 Surety Forfeiture Account.
18 (2) Monies collected by the division as a result of bond or surety forfeitures shall be
19 deposited in the account.
20 (3) Interest earned on monies in the account shall accrue to the account.
21 (4) (a) Money from each forfeited bond or surety, together with interest, shall be used to
22 reclaim the mine site or plug the well to which the forfeited bond or surety corresponds.
23 (b) Any money not used for a project shall be returned to the rightful claimant.
24 Section 2. Effective date.
25 If approved by two-thirds of all the members elected to each house, this act takes effect
26 upon approval by the governor, or the day following the constitutional time limit of Utah
27 Constitution Article VII, Section 8, without the governor's signature, or in the case of a veto, the

1 date of veto override.




Legislative Review Note
as of 1-23-97 11:24 AM

A limited legal review of this bill raises no obvious constitutional or statutory concerns.

Office of Legislative Research and General Counsel

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