New Jersey Administrative Code
Title 7 - ENVIRONMENTAL PROTECTION
Chapter 14B - UNDERGROUND STORAGE TANKS
Subchapter 15 - FINANCIAL RESPONSIBILITY REQUIREMENTS
Section 7:14B-15.1 - Applicability and general requirements

(a) This subchapter sets forth financial responsibility assurance requirements for owners and operators for the purpose of remediation and for compensating third parties for bodily injury and property damage as a result of a discharge from an underground storage tank system.

(b) Owners and operators of Federally regulated systems subject to 40 C.F.R. Part 280 Subpart H shall comply with this subchapter by maintaining financial assurance pursuant to 40 C.F.R. Part 280 Subpart H incorporated, in its entirety, by reference.

(c) By September 16, 2003, the owner and operator not covered by (b) above shall comply with this subchapter for the amounts listed in N.J.A.C. 7:14-15.2 by maintaining financial assurance pursuant to USEPA's Financial Responsibility Regulations at 40 CFR Part 280 Subpart H, incorporated by reference, with the noted exclusions at N.J.A.C. 7:14B-15.3(c) .

(d) State and Federal government entities whose debts and liabilities are the debts and liabilities of the State of New Jersey or the United States are exempt from the requirements of this subchapter.

(e) If the owner and operator are separate persons, only one person is required to demonstrate financial responsibility; however, both the owner and operator are responsible in the event of noncompliance.

(f) The owner and operator may use separate mechanisms to satisfy the requirements of 7:14B-15.2 for different underground storage tank systems; however, the annual aggregate required shall be based on the number of tanks covered by each separate mechanism.

(g) he owner and operator are not required to maintain financial responsibility assurance pursuant to this subchapter for any underground storage tank system when either of the following conditions has been met; the owner and operator may be required, however, to maintain financial assurance if the owner and operator are required to obtain a remedial action permit pursuant to the Administrative Requirements for the Remediation of Contaminated Sites at N.J.A.C. 7:26C-7.7 .

(h) The owner and operator shall identify the financial assurance mechanism being used to comply with this subchapter on the New Jersey Underground Storage Tank Facility Certification Questionnaire pursuant to N.J.A.C. 7:14B-2.2(c) 9 and submit to the Department evidence of financial assurance with any supporting documentation. An owner and operator shall maintain evidence of financial assurance at the site or at the owner or operator's place of business.

(i) Within 30 calendar days after the cancellation or expiration of any form of financial assurance established to meet the requirements of this chapter, the issuing financial institution shall notify the Department in writing of the expiration or cancellation. The financial institution shall include in the notification the name of the insured policy holder, the policy number as applicable and the address of all sites covered by the financial mechanism. The written notification shall be sent to the address below:

New Jersey Department of Environmental Protection

Bureau of Case Assignment & Initial Notice

Mail Code 401-05H

401 East State Street, 5th Floor

P.O. Box 420

Trenton, NJ 08625-0420

Attn: Registration and Billing Unit