Louisiana Administrative Code
Title 33 - ENVIRONMENTAL QUALITY
Part XI - Underground Storage Tanks
Chapter 11 - Financial Responsibility
Section XI-1129 - Cancellation or Nonrenewal by a Provider of Financial Assurance

Universal Citation: LA Admin Code XI-1129

Current through Register Vol. 50, No. 9, September 20, 2024

A. Except as otherwise provided, a provider of financial assurance may cancel or fail to renew an assurance mechanism by sending a notice of termination by certified mail to the owner or operator.

1. Termination of a guarantee, a surety bond, or a letter of credit may not occur until 120 days after the date on which the owner or operator receives the notice of termination, as evidenced by the return receipt.

2. Termination of insurance or risk retention group coverage may not occur until 60 days after the date on which the owner or operator receives the notice of termination, as evidenced by the return receipt.

B.If a provider of financial responsibility cancels or fails to renew for reasons other than incapacity of the provider as specified in LAC 33:XI.1131, the owner or operator shall obtain alternate coverage as specified in this Section within 60 days after receipt of the notice of termination. If the owner or operator fails to obtain alternate coverage within 60 days after receipt of the notice of termination, the owner or operator shall notify the Office of Environmental Assessment of such failure and submit:

1. the name and address of the provider of financial assurance;

2. the effective date of termination; and

3. the evidence of the financial assistance mechanism subject to the termination maintained in accordance with LAC 33:XI.1133.B.

AUTHORITY NOTE: Promulgated in accordance with R.S. 30:2001 et seq.

Disclaimer: These regulations may not be the most recent version. Louisiana 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.
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