020-1 Wyo. Code R. § 1-54

Current through April 27, 2019
Section 1-54 - Allowable Mechanisms and Combinations of Mechanisms

(a) Petroleum USTs or contaminated site owners and/or operators not eligible for the state corrective action account shall use any one or combination of mechanisms to demonstrate financial responsibility under this Chapter for one or more USTs. Demonstration shall be pursuant to the requirements of 40 CFR 280.95, 280.96, 280.97, 280.98, 280.99, and/or 280.102, and 280.103 when required by the mechanism chosen; and for local governments, 40 CFR 280.104, 280.105, 280.106, and/or 280.107, all as referenced in Section 2. The demonstration shall be executed on forms provided by the department.

(b) An owner and/or operator may use a guarantee under 40 CFR 280.96 or surety bond under 40 CFR 280.98, both as referenced in Section 2, only if the Wyoming Attorney General submits in writing to the department that the guarantee or surety bond is executed as described in the CFR and is a legally valid and enforceable obligation in Wyoming.

(c) An owner and/or operator may use self-insurance in combination with a guarantee only if, for the purpose of meeting the requirements of the financial test under this Part, the financial statements of the owner and/or operator are not consolidated with the financial statements of the guarantor.

(d) The department's trust and agency account will serve as the standby trust fund as described in 40 CFR 280.103, as referenced in Section 2, which is required in conjunction with a guarantee, surety bond, and letter of credit.

020-1 Wyo. Code R. § 1-54

Adopted, Eff. 6/29/2018.