North Carolina Administrative Code
Title 15A - Environmental Quality
Chapter 02 - ENVIRONMENTAL MANAGEMENT
Subchapter O - FINANCIAL RESPONSIBILITY REQUIREMENTS FOR OWNERS AND OPERATORS OF UNDERGROUND STORAGE TANKS
Section .0200 - PROGRAM SCOPE
Section 02O .0203 - DEFINITIONS
Universal Citation: 15A NC Admin Code 02O .0203
Current through Register Vol. 39, No. 6, September 16, 2024
(a) The definitions in 40 CFR 280.92 are hereby incorporated by reference, except as modified below. The federal regulation may be accessed at www.ecfr.gov/cgi-bin/ECFR?page=browse at no charge.
(1) "Director of the
Implementing Agency" shall mean the Director of the Division of Waste
Management.
(2) "Financial
reporting year" shall be modified to allow a compilation report to be used to
support a financial test. The compilation report shall be prepared by a
Certified Public Accountant (CPA) or Certified Public Accounting Firm (CPA
Firm) as defined in
21 NCAC
08A .0301.
(b) The following definitions shall apply throughout this Subchapter:
(1) "Independent"
Certified Public Accountant or Certified Public Accounting Firm shall mean a
CPA or CPA firm that examines the financial records and business transactions
of an owner, operator or guarantor for whom the CPA or CPA firm is not
affiliated.
(2) "Financial
assurance" shall mean per occurrence and annual aggregate amounts of financial
responsibility, collectively.
Authority
G.S.
143-215.94A;
143-215.94H;
Eff.
July 1, 1992;
Readopted Eff. January 1,
2021.
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