South Dakota Administrative Rules
Title 74 - Department of Environment And Natural Resources
Article 74:27 - Solid waste
Chapter 74:27:16 - Financial assurance
Section 74:27:16:05 - Financial assurance mechanism

Universal Citation: SD Admin Rules 74:27:16:05

Current through Register Vol. 50, page 114, March 25, 2024

A financial assurance mechanism is required for closure activities, postclosure care activities, and any corrective action required by chapter 74:27:21. In addition, the owner or operator may be required to provide a financial assurance mechanism for environmental remediation activities, as required by § 74:27:16:04. The owner or operator may chose one or more of the following mechanisms, which comply with the provisions of 40 C.F.R. Part 258.74, as published on 56 Fed. Reg. 51,030 to 51,032, inclusive (October 9, 1991), to satisfy the provisions of this chapter:

(1) Trust fund;

(2) Security bond guaranteeing payment or performance;

(3) Letter of credit;

(4) Insurance; or

(5) Cash.

The board or secretary may approve an alternative form of financial assurance if the alternative form complies with the applicable provisions of this chapter.

General Authority: SDCL 34A-6-1.6.

Law Implemented: SDCL 34A-6-1.6, 34A-6-1.11, 34A-6-1.12.

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