Nebraska Administrative Code
Topic - ENVIRONMENT AND ENERGY
Title 132 - NEBRASKA DEPARTMENT OF ENVIRONMENTAL QUALITY
Chapter 8 - FINANCIAL ASSURANCE CRITERIA: SOLID WASTE MANAGEMENT FACILITIES
Section 132-8-016 - Corporate Guarantee
Current through March 20, 2024
016.01 An owner or operator may meet the requirements of this chapter by obtaining a written guarantee. The guarantor must be the direct or higher-tier parent corporation of the owner or operator, a firm whose parent corporation is also the parent corporation of the owner or operator, or a firm with a "substantial business relationship" with the owner or operator. The guarantor must meet the requirements for owners or operators in Section 014 and must comply with the terms of the guarantee. A certified copy of the guarantee must be provided to the Department and a copy placed into the facility's operating record along with the copies of the letter from the guarantor's chief financial officer and accountants' opinions. If the guarantor's parent corporation is also the parent corporation of the owner or operator, the letter from the guarantor's chief financial officer must describe the value received in consideration of the guarantee. If the guarantor is a firm with a "substantial business relationship" with the owner or operator, this letter must describe this "substantial business relationship" and the value received in consideration of the guarantee.
016.02 The guarantee must be effective and all required submissions provided to the Department and a copy placed into the operating record before the initial receipt of waste in the case of closure and post-closure care, or in the case of remedial action no later than 120 days after the remedial action workplan has been approved by the Department.
016.03 The terms of the guarantee must provide that
016.04 If a corporate guarantor no longer meets the requirements of Section 014.01, the owner or operator must, within 90 days, provide alternate assurance to the Department and, place evidence of the alternate assurance in the facility operating record. If the owner or operator fails to provide alternate financial assurance within the 90-day period, the guarantor must provide that alternate assurance to the Department within the next 30 days.
016.05 The owner or operator is no longer required to meet the requirements of this section when: