Wis. Admin. Code Department of Natural Resources NR 756.10

Current through November 25, 2024
Section NR 756.10 - Adjustment of financial responsibility
(1) A person required to submit proof shall submit to the department verification of the adjustment of the amount of funds secured by a method of proof of financial responsibility on a form supplied by the department.
(2) The amounts of funds secured by methods of proof of financial responsibility shall be adjusted according to all of the following requirements:
(a) The amounts of funds for all proof methods shall be adjusted annually under s. NR 756.07(7) to account for increases in cost estimates based on adjustments for inflation. The annual proof method adjustments shall be submitted to the department by December 31.
(b) Adjusted proof methods shall be submitted within 60 days after a new cost estimate submitted in accordance with s. NR 756.07 is approved by the department. The adjusted proof methods shall be in an amount adequate to cover the most recently approved cost estimate.
(3) For a person using trust accounts, escrow accounts, or deposits with the department to meet the requirements of this chapter, revised proof of financial responsibility calculations shall be performed under s. NR 756.08 and submitted to the department by March 1 of the year succeeding the calendar year in which the weighted average annual rate of return of any trust or escrow account has fallen by one percent or more.

Wis. Admin. Code Department of Natural Resources NR 756.10

Adopted by, EmR2032: emerg. cr., eff. 9-8-20; CR 20-038: cr. Register September 2021 No. 789, eff. 10-1-21; correction in (3) made under s. 35.17, Stats., Register September 2021 No. 789, eff. 10/1/2021