Ill. Admin. Code tit. 35 § 704.213

Current through Register Vol. 49, No. 2, January 10, 2025

Section 704.213 - Financial Assurance for Plugging and Abandonment

An owner or operator of each facility must establish financial assurance for the plugging and abandonment of each existing and new Class I hazardous waste injection well. The owner or operator must choose one of the following financial assurance mechanisms:

a) A trust fund (Section 704.214 );

b) A surety bond guaranteeing payment (Section 704.215 );

c) A surety bond guaranteeing performance (Section 704.216 );

d) A letter of credit (Section 704.217 );

e) Insurance (Section 704.218 ); or

f) The financial test and corporate guarantee (Section 704.219 );

BOARD NOTE: Derived from 40 CFR 144.63 preamble (2005).

Ill. Admin. Code tit. 35, § 704.213

Amended at 31 Ill. Reg. 605, effective December 20, 2006