N.J. Admin. Code § 7:14B-15.2 - Amount and scope of required financial responsibility
(a)
Owners and operators shall maintain financial responsibility assurance for
regulated underground storage tank systems in the per-occurrence or
per-incident amounts as follows:
1. For
petroleum underground storage tank systems located at petroleum marketing
facilities, or facilities that handle an average of more than 10,000 gallons of
petroleum per month based on annual throughput for the previous calendar year:
$ 1,000,000;
2. For all other
petroleum underground storage tanks: $ 250,000; and
3. For underground storage tanks systems
containing hazardous substances other than petroleum: $ 1,000,000.
(b) Owners and operators shall
maintain financial responsibility assurance for regulated underground storage
tank systems in the annual aggregate amounts as follows:
1. For one to 100 underground storage tanks:
$ 1,000,000; and
2. For 101 or more
underground storage tanks: $ 2,000,000.
(c) Owners and operators shall review the
amount of per-occurrence or per-incident, and aggregate assurance needed
whenever they acquire or install additional underground storage tanks to ensure
the amount of financial responsibility assurance required at (a) and (b) above
are maintained.
(d) If an
adjustment in the amount of financial responsibility assurance is required
pursuant to (c) above, the owner and operator shall demonstrate the adjusted
amount within 30 calendar days after the tank acquisition or installation by
submitting to the Department an amended New Jersey Underground Storage Tank
Facility Certification Questionnaire in accordance with N.J.A.C.
7:14B-2.2.
(e) If an owner and operator use liability
insurance authorized by
40 CFR
280.94 and
40 CFR
280.97 as the financial
responsibility assurance required under this subchapter, as provided by the
Underground Storage Tank Finance Act at N.J.S.A.
58:10A-37.11, such insurance shall
be the primary coverage to pay for the costs associated with remediating a
discharge from the UST system, notwithstanding that financial assistance from
New Jersey Petroleum Underground Storage Tank Remediation, Upgrade and Closure
Fund is or may be available.
Notes
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