Florida Regulations 40E-1.604: Bond
Current as of: 2024 | Check for updates
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(1) The Board may require the applicant for a permit to furnish a bond made payable to the District and its successors, with a reputable bonding corporation authorized to do business in this State as surety, conditioned upon full compliance with terms of the permit, including the proper construction, operation, and maintenance of the facility. The amount of the bond shall be determined by the Board.
(2) The Board may require liability insurance in such amount as the Board may determine endorsed in favor of the District or a hold harmless agreement satisfactory to the Board, in lieu of a bond under subsection (1).
(3) The Board may require that the bond or liability insurance be maintained as a condition of the continued validity of the permit.
Rulemaking Authority 373.044, 373.113 FS. Law Implemented 373.085, 373.103, 373.219, 373.413, 373.416 FS. History-New 9-3-81, Formerly 16K-1.061.
Terms Used In Florida Regulations 40E-1.604
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
(3) The Board may require that the bond or liability insurance be maintained as a condition of the continued validity of the permit.
Rulemaking Authority 373.044, 373.113 FS. Law Implemented 373.085, 373.103, 373.219, 373.413, 373.416 FS. History-New 9-3-81, Formerly 16K-1.061.