Section 1800.30  Replacement of Bonds

a)         The Department may allow a permittee to replace existing bonds with other bonds that provide equivalent coverage, if the liability which has accrued against the permittee on the permit area is transferred to such replacement bonds.  The replacement bond shall be accompanied by a letter from the bonding company identifying the dates of the permit period which the bond is to cover and acknowledging any previously affected areas which the replacement is to cover.

b)         The Department shall not release existing performance bonds until the permittee has submitted, and the Department has approved, acceptable replacement performance bonds.  Replacement of a performance bond pursuant to this Section shall not constitute a release of bond under Section 1800.40.

(Source: Added at 11 Ill. Reg. 7985, effective July 1, 1987)