Nebraska Administrative Code
Topic - ENVIRONMENT AND ENERGY
Title 122 - NEBRASKA DEPARTMENT OF ENVIRONMENTAL QUALITY
Chapter 13 - FINANCIAL RESPONSIBILITY
Section 122-13-002 - Methods of Providing Financial Responsibility
Universal Citation: 122 NE Admin Rules and Regs ch 13 ยง 002
Current through March 20, 2024
002.01 The applicant shall choose among the following options in establishing financial responsibility:
002.01A An Environmental
Protection Trust. An owner or operator may satisfy the requirements of this
Chapter by establishing an Environmental Protection Trust. This standby trust
shall be sufficient to compensate for all the environmental protection costs as
specified in section 001 of this Chapter. An
Environmental Protection Trust must fulfill the requirements in Section
004 of this Chapter;
002.01B A surety bond guaranteeing payment
into an Environmental Protection Trust. This bond must be worded as in Appendix
II of this Title and would work in tandem with the stand-by Trust provided for
in Section 002.01A of this Chapter. A surety bond must
comply with the requirements in Section 005 of this
Chapter;
002.01C A collateral bond,
in which case the applicant shall deposit, with a bank acceptable to the
Department, cash, negotiable bonds issued by the United States or the State; or
negotiable certificates of deposit; or deliver to the Department an irrevocable
letter of credit of any banks or other savings institution organized or
transacting business in the United States. The bank shall receive and hold any
collateral bond in the name of the State, in trust, for the purposes for which
the deposit is posted. The applicant shall pay all costs of the trust, and
shall be paid all interest accruing to the account of the trust. A collateral
bond must fulfill the requirements in Section 006 of
this Chapter;
002.01D An
established escrow account;
002.01E
A bond of the applicant without separate surety upon a satisfactory
demonstration to the Director that such applicant has the financial means
sufficient to self-bond pursuant to bonding requirements specified in Section
009 of this Chapter; or
002.01F Any combination of the
above.
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