260.278. Performance bond or letter of credit required for transporter of scrap tires, when--provisions required--forfeiture of bond, when, procedure--bond requirement ceases, when.
Performance bond or letter of credit required for transporter ofscrap tires, when--provisions required--forfeiture of bond, when,procedure--bond requirement ceases, when.
260.278. 1. A person who has, within the preceding twenty-fourmonths, been found guilty or pleaded guilty to a violation of section260.270 which involves the transport of scrap tires may not be granted apermit to transport scrap tires unless the person seeking the permit hasprovided to the department a performance bond or letter of credit asprovided under this section.
2. The bond or letter shall be conditioned upon faithful compliancewith the terms and conditions of the permit and section 260.270 and shallbe in the amount of ten thousand dollars.
3. Such performance bond, placed on file with the department, shallbe in one of the following forms:
(1) A performance bond, payable to the department and issued by aninstitution authorized to issue such bonds in this state; or
(2) An irrevocable letter of credit issued in favor of and payable tothe department from a commercial bank or savings and loan having an officein the state of Missouri.
4. Upon a determination by the department that a person has violatedthe terms and conditions of the permit or section 260.270, the departmentshall notify the person that the bond or letter of credit shall beforfeited and the moneys placed in an appropriate subaccount of the solidwaste management fund, created under section 260.330, for remedial action.
5. The department shall expend whatever portion of the bond or letterof credit necessary to conduct resource recovery or nuisance abatementactivities to alleviate any condition resulting from a violation of section260.270 or the terms and conditions of a permit.
6. The requirement for a person to provide a performance bond or aletter of credit under this section shall cease for that person after twoconsecutive years in which the person has not been found guilty or pleadedguilty to a violation of section 260.270.
(L. 1995 S.B. 60 & 112, A.L. 2005 S.B. 225)