Texas Administrative Code
Title 30 - ENVIRONMENTAL QUALITY
Part 1 - TEXAS COMMISSION ON ENVIRONMENTAL QUALITY
Chapter 37 - FINANCIAL ASSURANCE
Subchapter I - FINANCIAL ASSURANCE FOR PETROLEUM UNDERGROUND STORAGE TANK SYSTEMS
Section 37.895 - Replenishment of Guarantees, Letters of Credit, or Surety Bonds

Universal Citation: 30 TX Admin Code § 37.895

Current through Reg. 50, No. 13; March 28, 2025

(a) If at any time after a standby trust is funded upon the instruction of the executive director with funds drawn from a guarantee, local government guarantee with standby trust, letter of credit, or surety bond, and the amount in the standby trust is reduced below the full amount of coverage required, the owner or operator shall by the anniversary date of the financial mechanism from which the funds were drawn:

(1) replenish the value of financial assurance to equal the full amount of coverage required; or

(2) acquire another financial assurance mechanism for the amount by which funds in the standby trust have been reduced.

(b) For purposes of this section, the full amount of coverage required is the amount of coverage specified in § 37.815 of this title (relating to Amount and Scope of Required Financial Assurance). If a combination of mechanisms was used to provide the assurance funds which were drawn upon, replenishment shall occur by the earliest anniversary date among the mechanisms.

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