Authority to promulgate rules regarding terms and release of security and its disposition upon expiration of permit or license

The Water Management Board and the Board of Minerals and Environment shall establish, by rules promulgated pursuant to chapter 1-26 : (1) Criteria to determine the amount of security required and other terms as necessary to define the respective obligation of the parties; (2) The procedure to follow and the circumstances under which the state or applicant may obtain board approval for the release of the security; and (3) Conditions under which the security may be held by the state after the expiration of the permit or license. Source: SL 1989, ch 306 , § 71.