Administrative Rules of Montana
Department 17 - ENVIRONMENTAL QUALITY
Chapter 17.56 - UNDERGROUND STORAGE TANKS PETROLEUM AND CHEMICAL SUBSTANCES
Subchapter 17.56.8 - Financial Responsibility
Rule 17.56.828 - REPLENISHMENT OF GUARANTEES, LETTERS OF CREDIT, OR SURETY BONDS

Universal Citation: MT Admin Rules 17.56.828

Current through Register Vol. 6, March 22, 2024

(1) If at any time after a standby trust is funded upon the instruction of the director with funds drawn from a guarantee, letter of credit, or surety bond, and the amount in the standby trust is reduced below the full amount of coverage required, the owner or operator shall by the anniversary date of the financial mechanism from which the funds were drawn:

(a) replenish the value of financial assurance to equal the full amount of coverage required; or

(b) acquire another financial assurance mechanism for the amount by which funds in the standby trust have been reduced.

(2) For purposes of this section, the full amount of coverage required is the amount of coverage to be provided by ARM 17.56.805 of this subchapter. If a combination of mechanisms was used to provide the assurance funds which were drawn upon, replenishment shall occur by the earliest anniversary date among the mechanisms.

75-11-505, MCA; IMP, 75-11-505, MCA;

Disclaimer: These regulations may not be the most recent version. Montana 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.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.