Section 29.2163a. Allowable mechanisms and combinations of mechanisms.

a. Section 280.94 is amended to read as follows:

Section 280.94. (a) Subject to the limitations of subsections (b)    and    (c) of this section, both of the following provisions apply:

(1)   An owner or operator, including a local government owner or operator, may use any 1 or a combination of the mechanisms listed in sections 280.95 to 280.103 to demonstrate financial responsibility under this subpart for 1 or more underground storage tanks.

(2)   A local government owner or operator may use any 1 or a combination of the mechanisms listed in sections 280.104 to 280.107 to demonstrate financial responsibility under this subpart for 1 or more underground storage tanks.

(b)   An owner or operator may use a guarantee under section 280.96 or surety bond under section 280.98 to establish financial responsibility only if the attorney general of the state in which the underground storage tanks are located has submitted a written statement to the implementing agency that a guarantee or surety bond executed as described in this section is a legally valid and enforceable obligation in that state.

(c)     An owner or operator may use self-insurance in combination with a guarantee only if, for the purpose of meeting the requirements of the financial test under this rule, the financial statements of the owner or operator are not consolidated with the financial statements of the guarantor.

History: 1998-2000 AACS.