Section R. 29.2163b - Allowable mechanisms and combinations of mechanismsRule 63b. Section 280.94 is amended to read as adopted from the July 15, 2015, EPA-UST rules as follows:
Section 280.94.
(a) Subject to the limitations of subsections (b) and (c) of this section, both of the following provisions apply: (1) An O/O, including a local government O/O, may use any 1 or a combination of the mechanisms listed in sections 280.95 to 280.103 to demonstrate financial responsibility under this subpart for 1 or more USTs.(2) A local government O/O may use any 1 or a combination of the mechanisms listed in sections 280.104 to 280.107 to demonstrate financial responsibility under this subpart for 1 or more USTs.(b) An O/O may use a guarantee under section 280.96 or surety bond under section 280.98 to establish financial responsibility only if the attorney general of the state in which the USTs are located has submitted a written statement to the implementing agency that a guarantee or surety bond executed as described in this section is a legally valid and enforceable obligation in that state.(c) An O/O may use self-insurance in combination with a guarantee only if, for the purpose of meeting the requirements of the financial test under this rule, the financial statements of the O/O are not consolidated with the financial statements of the guarantor.Mich. Admin. Code R. 29.2163b
1998-2000 AACS; 2018 MR 21, Eff. 11/14/2018