7 Del. Admin. Code § 1352-D-20.0

Current through Register Vol. 28, No. 7, January 1, 2025

Section 1352-D-20.0 - Replenishments of Required Financial Responsibility

20.1 Requirements for Replenishments of Financial Responsibility Mechanisms

20.1.1 If at any time after a standby trust is funded upon the instruction of the Secretary with funds drawn from a Guarantee, Local Government Guarantee with Standby Trust, Letter of Credit, or Surety Bond, and the amount in the Standby Trust is reduced below the full amount of coverage required, the Owner or Operator shall by the anniversary date of the financial mechanism from which the funds were drawn:

20.1.1.1 Replenish the value of financial responsibility to equal the full amount of coverage required, or

20.1.1.2 Acquire another financial responsibility mechanism for the amount by which funds in the standby trust have been reduced.

20.1.2 For purposes of this Section, the full amount of coverage required is the amount of financial responsibility required by PART D, Section 3.0. If a combination of mechanisms was used to provide the financial responsibility funds which were drawn upon, replenishment shall occur by the earliest anniversary date among the mechanisms.

7 Del. Admin. Code § 1352-D-20.0

20 DE Reg. 815 (4/1/2017) (Final)