Ill. Admin. Code tit. 35 § 811.709

Current through Register Vol. 48, No. 49, December 6, 2024

Section 811.709 - Trust Fund for Unrelated Sites

Any person may establish a trust fund for the benefit of the Agency which may receive funds from more than one owner or operator for closure of different sites. Such a trust fund must operate like the trust fund specified in 35 Ill. Adm. Code 807.710, except as follows:

a) The trustee shall maintain a separate account for each site and shall evaluate such annually as of the day of creation of the trust;

b) The trustee shall annually notify each owner or operator and the Agency of the evaluation of each owner or operator's account;

c) The trustee shall release excess funds as required from the account for each site;

d) The trustee shall reimburse the owner or operator or other person authorized to perform closure or postclosure care only from the account for that site.

e) The Agency may direct the trustee to withhold payments only from the account for the site for which it has determined the cost of closure and postclosure care will be greater than the value of the account for that site pursuant to Section 811.710(g)(3).

Ill. Admin. Code tit. 35, § 811.709

Amended in R93-10 at 18 Ill. Reg. 1308, effective January 13, 1994