329 IAC 3.1-14-10 - Use of multiple financial mechanisms option

Authority: IC 13-14-8; IC 13-22-2; IC 13-22-8-1; IC 13-22-9-7

Affected: IC 13-22

Sec. 10.

An owner or operator may satisfy the requirements of sections 4 through 9 of this rule and this section by establishing more than one (1) financial mechanism per facility. These mechanisms are limited to trust funds, surety bonds, letters-of-credit, and insurance. The mechanisms must be established in accordance with sections 5 through 8 of this rule, respectively, except that it is the combination of mechanisms rather than the single mechanism, that must provide financial assurance for an amount at least equal to the current corrective action or closure cost estimate, or both cost estimates. If an owner or operator uses a trust fund in combination with a surety bond or a letter-of-credit, the owner or operator may use the trust fund as the standby trust fund for the other mechanisms. A single standby trust fund may be established for two (2) or more mechanisms. The commissioner may use any or all of the mechanisms to provide for corrective action or closure, or both, of the facility.

Notes

329 IAC 3.1-14-10

Solid Waste Management Board; 329 IAC 3.1-14-10; filed Jan 24, 1992, 2:00 p.m.: 15 IR 954; filed Apr 1, 1996, 11:00 a.m.: 19 IR 1979; readopted filed Jan 10, 2001, 3:25 p.m.: 24 IR 1535 Filed 5/11/2021, 12:38 p.m.: 20210609-IR-329140287FRA