Sec. 29. (a) Upon the completion of the grading requirements, the commission shall grant a partial release of the bond. The amount of bond retained for revegetation must be adequate to cover the satisfactory reclamation of the area. The remainder of the bond shall continue to be posted until satisfactory vegetative cover has been established but not for more than fifteen (15) years.
(b) If the bond is forfeited, the director shall expend the bond in a reclamation program for the area of land for which the bond was posted.