South Carolina Code of Regulations
Chapter 61 - DEPARTMENT OF HEALTH AND ENVIRONMENTAL CONTROL
Subchapter 61-92 - UNDERGROUND STORAGE TANK CONTROL REGULATIONS
Part 280 - TECHNICAL STANDARDS AND CORRECTIVE ACTION REQUIREMENTS FOR OWNERS AND OPERATORS OF UNDERGROUND STORAGE TANKS (UST)
Subpart H - FINANCIAL RESPONSIBILITY
Section 61-92.280.H.101 - STATE UNDERGROUND PETROLEUM ENVIRONMENTAL RESPONSE BANK (SUPERB) OR OTHER STATE ASSURANCE

Universal Citation: SC Code Regs 61-92.280.H.101

Current through Register Vol. 48, No. 9, September 27, 2024

(a) When used in conjunction with the deductible amount[s] referenced in (c) below, the SUPERB Account and the SUPERB Financial Responsibility Fund may be used to satisfy the financial responsibility requirements of Section 280.93 for corrective action and third party bodily injury or property damage, respectively, for USTs located in South Carolina.

(b) To be qualified for coverage by these funds, the UST owner or operator shall meet the following requirements which have been extracted from Title 44, Chapter 2 of the 1976 Code of Laws, the State Underground Petroleum Environmental Response Bank Act, as amended, and the regulations promulgated thereafter:

(1) The UST for which coverage is requested is in substantial compliance with SCUSTCR.

(2) All UST registration and annual fees have been paid.

(3) Department representatives have not been denied site access during reasonable hours to perform any requested activities authorized under the SUPERB Act.

(4) The owner or operator is not cited in any enforcement action by the Department pertaining to the USTs for which coverage is requested.

(c) The deductible[s] in force at the time the site was reported may be met by using the mechanisms listed in Sections 280.95 through 280.99 and Sections 280.102 through 280.107 or:

(1) For sites where the UST systems do not yet meet the federally mandated 1998 performance standards for corrosion protection and spill and overfill protection, by submitting a financial statement signed by a Certified Public Accountant or the chief financial officer of the company showing a tangible net worth of at least four times the deductible amount.

(2) For sites where the UST systems meet or have been upgraded to meet the federally mandated 1998 performance standards for corrosion protection and spill and overfill protection, by submitting a financial statement signed by a Certified Public Accountant or the chief financial officer of the company showing a tangible net worth of at least two times the deductible amount.

(d) The owner or operator must maintain a completed certificate, provided by the Department in Section 280.111(b)(11), on file as proof of financial responsibility. [See Sections 280.110 and 280.111 for additional recordkeeping requirements.]

(e) Subsequent to the abolishment of the environmental impact fee as authorized in Section 44-2-90 of the SUPERB Act, the coverage amounts afforded by these funds as authorized by this section will no longer be applicable. At that time owners or operators must demonstrate the full state financial responsibility requirement using approved mechanisms detailed in Sections 280.95 through 280.99 and Sections 280.102 through 280.107.

Disclaimer: These regulations may not be the most recent version. South Carolina 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.