La. Admin. Code tit. 33 § XI-1129

Current through Register Vol. 50, No. 11, November 20, 2024

Section XI-1129 - Cancellation or Nonrenewal by a Provider of Financial Assurance

A. Except as otherwise provided, a provider of financial assurance may cancel or fail to renew an assurance mechanism by sending a notice of termination by certified mail to the owner or operator.

1. Termination of a guarantee, a surety bond, or a letter of credit may not occur until 120 days after the date on which the owner or operator receives the notice of termination, as evidenced by the return receipt.

2. Termination of insurance or risk retention group coverage may not occur until 60 days after the date on which the owner or operator receives the notice of termination, as evidenced by the return receipt.

B.If a provider of financial responsibility cancels or fails to renew for reasons other than incapacity of the provider as specified in LAC 33:XI.1131, the owner or operator shall obtain alternate coverage as specified in this Section within 60 days after receipt of the notice of termination. If the owner or operator fails to obtain alternate coverage within 60 days after receipt of the notice of termination, the owner or operator shall notify the Office of Environmental Assessment of such failure and submit:

1. the name and address of the provider of financial assurance;

2. the effective date of termination; and

3. the evidence of the financial assistance mechanism subject to the termination maintained in accordance with LAC 33:XI.1133.B.

La. Admin. Code tit. 33, § XI-1129

Promulgated by the Department of Environmental Quality, Office of Solid and Hazardous Waste, Underground Storage Tank Division, LR 16:614 (July 1990), amended by the Office of Environmental Assessment, Environmental Planning Division, LR 26:2561 (November 2000), amended by the Office of the Secretary, Legal Affairs Division, LR 31:2521 (October 2005), LR 33:2174 (October 2007), amended by the Office of the Secretary, Legal Division, LR 38:2764 (November 2012), Amended by the Office of the Secretary, Legal Affairs and Criminal Investigations Division, LR 432146 (11/1/2017), Amended by the Office of the Secretary, Legal Affairs and Criminal Investigations Division, LR 441627 (9/1/2018).

AUTHORITY NOTE: Promulgated in accordance with R.S. 30:2001 et seq.