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1998 SESSION

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HB 978 Mine reclamation performance bonds.

Introduced by: Terry G. Kilgore | all patrons    ...    notes | add to my profiles

SUMMARY:

Mine reclamation performance bonds. Eliminates two requirements that apply when letters of credit are used for such performance bonds: (i) the requirement limiting the amount of the letter of credit to that which can be insured by the FDIC and (ii) the requirement that a letter of credit issued by an out-of-state lending institution be confirmed by a Virginia lending institution.


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