You may provide a State-approved financial guarantee in any of the following forms, subject to the conditions in §§3809.570 and 3809.574:

(a) The kinds of individual financial guarantees specified under §3809.555;

(b) Participation in a State bond pool, if—

(1) The State agrees that, upon BLM's request, the State will use part of the pool to meet reclamation obligations on public lands; and

(2) The BLM State Director determines that the State bond pool provides the equivalent level of protection as that required by this subpart; or

(c) A corporate guarantee that existed on January 20, 2001, subject to the restrictions on corporate guarantees in §3809.574.