Louisiana Administrative Code
Title 33 - ENVIRONMENTAL QUALITY
Part XI - Underground Storage Tanks
Chapter 11 - Financial Responsibility
Section XI-1133 - Recordkeeping

Universal Citation: LA Admin Code XI-1133

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

A. Owners or operators shall maintain evidence of all financial assurance mechanisms used to demonstrate financial responsibility under this Chapter for an underground storage tank until released from the requirements of this Chapter under LAC 33:XI.1137. An owner or operator shall maintain such evidence at the underground storage tank site or the owner's or operator's place of business. Records maintained off-site shall be made available upon request of the department.

B. An owner or operator shall maintain the following types of evidence of financial responsibility.

1. An owner or operator using an assurance mechanism specified in LAC 33:XI.1111-1123 shall maintain a copy of the instrument worded as specified.

2. An owner or operator using a financial test or guarantee shall maintain a copy of the chief financial officer's letter based on year-end financial statements for the most recent completed financial reporting year. Such evidence shall be on file no later than 120 days after the close of the financial reporting year.

3. An owner or operator using a guarantee, surety bond, or letter of credit shall maintain a copy of the signed standby trust fund agreement and copies of any amendments to the agreement.

4. An owner or operator using an insurance policy or risk retention group coverage shall maintain a copy of the signed insurance policy or risk retention group coverage policy, with the endorsement or certificate of insurance and any amendments to the agreements.

5. An owner or operator covered by the Underground Motor Fuel Storage Tank Trust Fund shall maintain on file a copy of the current registration certificate.

6. An owner or operator using an assurance mechanism specified in LAC 33:XI.1111-1123 shall maintain an updated copy of a certification of financial responsibility worded as follows, except that instructions in brackets are to be replaced with the relevant information and the brackets deleted.

Certification of Financial Responsibility

[Owner or operator] hereby certifies that it is in compliance with the requirements of LAC 33:XI.Chapter 11.

The financial assurance mechanism(s) used to demonstrate financial responsibility under LAC 33:XI.Chapter 11 is [are] as follows:

[For each mechanism, list the type of mechanism, name of issuer, mechanism number (if applicable), amount of coverage, effective period of coverage, and whether the mechanism covers "taking corrective action" and/or "compensating third parties for bodily injury and property damage caused by" either "sudden accidental releases" or "nonsudden accidental releases" or "accidental releases."]

[Signature of owner or operator]

[Name of owner or operator]

[Title]

[Date]

[Signature of witness or notary]

[Name of witness or notary]

[Date]

The owner or operator shall update this certification whenever the financial assurance mechanism(s) used to demonstrate financial responsibility change(s).

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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