Illinois Administrative Code
Title 41 - FIRE PROTECTION
Part 176 - ADMINISTRATIVE REQUIREMENTS FOR UNDERGROUND STORAGE TANKS AND THE STORAGE, TRANSPORTATION, SALE AND USE OF PETROLEUM AND OTHER REGULATED SUBSTANCES
Subpart B - FINANCIAL ASSURANCE
Section 176.215 - Mechanisms of Financial Responsibility
Universal Citation: 41 IL Admin Code ยง 176.215
Current through Register Vol. 48, No. 52, December 27, 2024
Under Section 6.1 of the Gasoline Storage Act, only the following may be considered acceptable mechanisms for financial responsibility:
a) Commercial or private insurance, including risk retention groups;
b) Self-insurance, if there is a tangible net worth of at least $200,000;
c) Guarantee;
d) Surety bond;
e) Letter of credit;
f) Certificate of deposit;
g) Designated savings account; or
h) Any combination of the mechanisms listed in this Section.
Disclaimer: These regulations may not be the most recent version. Illinois may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
