Indiana Administrative Code
Title 329 - SOLID WASTE MANAGEMENT DIVISION
Article 3.1 - HAZARDOUS WASTE MANAGEMENT PERMIT PROGRAM AND RELATED HAZARDOUS WASTE MANAGEMENT
Rule 14 - Financial Requirements for Owners and Operators of Interim Status Hazardous Waste Treatment, Storage, and Disposal Facilities
Section 14-33 - Wording of guarantees for corrective action, closure, or post-closure care
Current through March 20, 2024
Authority: IC 13-14-8; IC 13-22-2; IC 13-22-8-1; IC 13-22-9-7
Affected: IC 13-22
Sec. 33.
A guarantee, as specified in section 9 or 19 of this rule, 329 IAC 3.1-15-4(g), or 329 IAC 3.1-15-6(g), 329 IAC 3.1-15-10(h)), must be worded as follows except that instructions in brackets are to be replaced with the relevant information and the brackets deleted:
Guarantee for Corrective Action, Closure, or Post-Closure Care
Guarantee made this [date] by [name of guaranteeing entity], a business corporation organized under the laws of the State of [insert state's name], herein referred to as guarantor. This guarantee is made on behalf of the [owner or operator] of [business address], which is [one (1) of the following: "our subsidiary" or "a subsidiary of [name and address of common parent corporation], of which guarantor is a subsidiary"] to the Department of Environmental Management of the State of Indiana (IDEM).
Recitals
1. Guarantor meets or exceeds the financial test criteria and agrees to comply with the reporting requirements for guarantors in accordance with 329 IAC 3.1-14-9 and 329 IAC 3.1-14-19 or 329 IAC 3.1-15-4(g) and 329 IAC 3.1-15-6(g).
2. [Owner or operator] owns or operates the following hazardous waste management facility(ies) covered by this guarantee: [List for each facility: U.S. EPA identification number, name, and address. Indicate for each whether guarantee is for corrective action, closure, and/or post-closure. ]
3. "Corrective action plan", "closure plan", and "post-closure plan" as used below refer to the plans maintained as required by 329 IAC 3.1-14 and 329 IAC 3.1-15 for the corrective action, closure, and post-closure care of facilities as identified above.
4. For value received from [owner or operator], guarantor guarantees to IDEM that in the event that [owner or operator] fails to perform [insert "corrective action", "closure", and/or "post-closure care"] of the above facility(ies) in accordance with the corrective action, closure, or post-closure plans and other permit or interim status requirements whenever required to do so, the guarantor shall do so or establish a trust fund in accordance with 329 IAC 3.1-14 and 329 IAC 3.1-15, as applicable, in the name of [owner or operator] in the amount of the current corrective action, closure, or post-closure cost estimates determined in accordance with 329 IAC 3.1-14 and 329 IAC 3.1-15.
5. Guarantor agrees that if, at the end of any fiscal year before termination of this guarantee, the guarantor fails to meet the financial test criteria, guarantor shall send within ninety (90) days, by certified mail, notice to the IDEM commissioner and to [owner or operator] that the guarantor intends to provide alternate financial assurance in accordance with 329 IAC 3.1-14 and 329 IAC 3.1-15, as applicable, in the name of [owner or operator]. Within one hundred twenty (120) days after the end of such fiscal year, the guarantor shall establish such financial assurance unless [owner or operator] has done so.
6. The guarantor agrees to notify the IDEM commissioner by certified mail, of a voluntary or involuntary bankruptcy proceeding under 11 U.S.C. 101 et seq., naming guarantor as debtor, within ten (10) days after commencement of the proceeding.
7. Guarantor agrees that within thirty (30) days after being notified by the IDEM commissioner of a determination that guarantor no longer meets the financial test criteria or that the guarantor is disallowed from continuing as a guarantor of corrective action, closure, or post-closure care, the guarantor shall establish alternate financial assurance in accordance with 329 IAC 3.1-14 and 329 IAC 3.1-15, as applicable, in the name of [owner or operator] unless [owner or operator] has done so.
8. Guarantor agrees to remain bound under this guarantee notwithstanding any or all of the following: amendment or modification of the corrective action, closure, or post-closure plan, amendment or modification of the permit, the extension or reduction of the time of performance of corrective action, closure, or post-closure, or any other modification or alteration of an obligation of the owner or operator pursuant to 329 IAC 3.1-10 or 329 IAC 3.1-9.
9. Guarantor agrees to remain bound under this guarantee for so long as [owner or operator] must comply with the applicable financial assurance requirements of 329 IAC 3.1-14 and 329 IAC 3.1-15 for the above-listed facilities except as provided in paragraph 10 of this guarantee.
10. Guarantor may terminate this guarantee by sending notice by certified mail to the IDEM commissioner and to [owner or operator], provided that this guarantee may not be terminated unless and until [owner or operator] obtains, and the IDEM commissioner approves, alternate corrective action, closure, and/or post-closure care coverage complying with 329 IAC 3.1-14 or 329 IAC 3.1-15, or both.
11. Guarantor agrees that if [owner or operator] fails to provide alternate financial assurance in accordance with 329 IAC 3.1-14 and 329 IAC 3.1-15, as applicable, and obtain written approval of such assurance from the IDEM commissioner within ninety (90) days after a notice of cancellation by the guarantor is received by the IDEM commissioner from guarantor, guarantor shall provide such alternate financial assurance in the name of [owner or operator].
12. Guarantor expressly waives notice of acceptance of this guarantee by the IDEM commissioner or by [owner or operator]. Guarantor also expressly waives notice of amendments or modifications of the corrective action, closure, and/or post-closure plan and of amendments or modifications of the facility permit(s).
I hereby certify that the wording of this guarantee is identical to the wording specified in 329 IAC 3.1-14-33 as such rule was constituted on the date first above written.
Effective date: ________________________________
[Name of guarantor]
[Authorized signature for guarantor]
[Name of person signing]
[Title of person signing]
Signature of witness or notary: ________________________________
