(a) An applicant for issuance or renewal of a license under this Chapter must file with the application an insurance policy issued by a corporate insurance company authorized to do business in the state with the following coverages:
(1) commercial general liability coverage of at least $1,000,000; and
(2) automobile liability coverage with a minimum combined single limit for bodily injury and property damage of $1,000,000 per occurrence.
(b) The types or amounts of insurance required under this Section may be modified, and additional types of insurance may be required, by Executive Regulation. When issuing or renewing a license for a minor quarry, the Director may waive the requirement for automobile liability coverage under subsection (a)(2) and the additional amount of performance bond authorized under subsection (e).
(c) Any insurance policy required under this Section or Executive Regulation must provide that the Director must be given 60 days advance written notice before the policy is cancelled or materially modified.
(d) Each licensee must maintain on file with the Department:
(1) current valid insurance policies that comply with this Section and Executive Regulation; and
(2) a valid performance bond or letter of credit under this Section.
(e) A licensee must also file annually a performance bond or a letter of credit acceptable to the County Attorney in the amount of $10,000, plus $300 for each acre under license, and an additional amount found by the Director to be necessary to guarantee rehabilitation of the abandoned area as provided in the abandonment plan and compliance with other applicable provisions of this Chapter and the license. If any portion of the bond or letter of credit is drawn against to correct violations of the license or this Chapter, the licensee must immediately provide a substitute or additional bond or letter so that the full amount required is posted.
(f) The requirements of this Section supplement any insurance or bond requirement under state law. If state and County law require the licensee to obtain the same insurance policy, letter of credit, or bond, the licensee need only obtain one such policy, letter, or bond in the largest amount required by the state or County if the policy, letter, or bond is made payable to the County or jointly to the County and the state. (Mont. Co. Code 1965, § 98-6; 1972 L.M.C., ch. 16, § 5; 1992 L.M.C., ch. 1, § 1.)