Indiana Administrative Code
Title 329 - SOLID WASTE MANAGEMENT DIVISION
Article 16 - ELECTRONICS WASTE MANAGEMENT
Rule 11 - Financial Assurance
Section 11-1 - Financial assurance for cleanup and closure

Universal Citation: 329 IN Admin Code 11-1

Current through September 18, 2024

Authority: IC 13-14-8-7; IC 13-15; IC 13-19-3

Affected: IC 13-14; IC 13-30-2; IC 36-9-30

Sec. 1.

(a) All owners, operators, and registrants that are required to register under this article shall establish financial responsibility with the department for closure of the registered facility. The following mechanisms may be used to provide financial responsibility:

(1) A trust fund as specified in section 2 of this rule.

(2) A surety bond as specified in section 3 of this rule.

(3) A letter of credit as specified in section 4 of this rule.

(4) Insurance as specified in section 5 of this rule.

(b) The financial responsibility must be in the amount that will provide for closure of the registered facility if the owner, operator, or registrant has failed to close the registered facility. The amount that will provide for closure is determined by multiplying the maximum amount in tons of e-waste, electronic devices, and electronic debris on site at any one (1) time by two hundred dollars ($200).

(c) If there is a change to the maximum amount of e-waste, electronic devices, and electronic debris specified in 329 IAC 16-5-1(f)(5), the owner, operator, or registrant must update the amount in subsection (b) within thirty (30) days after the change.

(d) For electronic waste brokers handling only intact electronic devices, a current contract with another person to pick up all electronic devices that is provided to the department will serve in lieu of the financial assurance mechanism as required in subsection (a).

(e) The owner, operator, or registrant may use a single financial assurance mechanism to meet the requirements for more than one (1) facility. Evidence of financial responsibility submitted to the commissioner must include a list showing, for each facility, the following:

(1) The registration number, name, and address.

(2) The amount of funds available through the financial assurance mechanism that must be not less than the sum of funds that would be available if a separate mechanism had been established and maintained for each facility.

(f) An owner, operator, or registrant shall do the following:

(1) Notify the commissioner by certified mail within ten (10) days after commencement of a voluntary or involuntary proceeding under bankruptcy under 11 U.S.C. 101 et seq., October 1, 1979, naming the owner, operator, or registrant as debtor. An owner, operator, or registrant who has a financial assurance mechanism shall be deemed to be without the required financial responsibility in the event of bankruptcy of the institution issuing the financial assurance mechanism.

(2) Reestablish financial responsibility within sixty (60) days after loss of a financial assurance mechanism due to bankruptcy. The registered facility cannot operate outside the sixty (60) day period without establishing a financial assurance mechanism for the amount required under subsection (b).

(g) In addition to any other penalties provided for in this article or in IC 13-14 and IC 13-30, any failure to obtain, maintain, or fund financial assurance as required by this rule within the prescribed time limits shall be:

(1) deemed to endanger human health or the environment; and

(2) grounds for a proceeding to revoke the facility's registration or to order final closure of the registered facility.

(h) After the closure certification is deemed adequate by the commissioner and the facility is so notified in writing by the commissioner, the owner, operator, or registrant of the registered facility is released from the obligation of maintaining financial assurance under this article.

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