020-1 Wyo. Code R. §§ 1-54 - Allowable Mechanisms and Combinations of Mechanisms
(a) Petroleum USTs
or contaminated site owners and/or operators not eligible for the state
corrective action account shall use any one or combination of mechanisms to
demonstrate financial responsibility under this Chapter for one or more USTs.
Demonstration shall be pursuant to the requirements of
40 CFR
280.95,
280.96,
280.97,
280.98,
280.99, and/or
280.102, and 280.103 when required by the mechanism chosen; and for local
governments,
40 CFR
280.104,
280.105,
280.106,
and/or 280.107, all as referenced in Section 2. The demonstration shall be
executed on forms provided by the department.
(b) An owner and/or operator may use a
guarantee under
40 CFR
280.96 or surety bond under
40
CFR 280.98, both as referenced in Section 2,
only if the Wyoming Attorney General submits in writing to the department that
the guarantee or surety bond is executed as described in the CFR and is a
legally valid and enforceable obligation in Wyoming.
(c) An owner and/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 Part, the financial
statements of the owner and/or operator are not consolidated with the financial
statements of the guarantor.
(d)
The department's trust and agency account will serve as the standby trust fund
as described in
40 CFR
280.103, as referenced in Section 2, which is
required in conjunction with a guarantee, surety bond, and letter of
credit.
Notes
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