Indiana Administrative Code
Title 328 - UNDERGROUND STORAGE TANK FINANCIAL ASSURANCE BOARD
Article 1 - EXCESS LIABILITY TRUST FUND CORRECTIVE ACTION AND ELTF LIABILITY INDEMNITY CLAIM PAYMENTS
Rule 4 - Prioritization of Claims
Section 4-4 - Monthly reimbursement

Universal Citation: 328 IN Admin Code 4-4

Current through March 20, 2024

Authority: IC 13-23

Affected: IC 13-23-7-2; IC 13-23-9-2; IC 13-23-9-4

Sec. 4.

(a) After priority payment under section 1(a)(2) of this rule is initiated, the total amount reimbursed from the fund in any calendar month must not exceed the fund revenue of the previous month, less the administrative expenses of the fund. The administrator must adjust the total amount reimbursed from the fund in any calendar month as necessary to maintain a fund balance of at least five million dollars ($5,000,000).

(b) For purposes of this section, "fund revenue" means any or all sources of money as described in IC 13-23-7-2.

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