Texas Administrative Code
Title 30 - ENVIRONMENTAL QUALITY
Part 1 - TEXAS COMMISSION ON ENVIRONMENTAL QUALITY
Chapter 37 - FINANCIAL ASSURANCE
Subchapter R - FINANCIAL ASSURANCE FOR MUNICIPAL SOLID WASTE FACILITIES
Section 37.8031 - Financial Assurance Mechanism
Current through Reg. 50, No. 13; March 28, 2025
(a) An owner or operator subject to this subchapter may use any of the financial assurance mechanisms in Subchapter C of this chapter (relating to Financial Assurance Mechanisms for Closure, Post Closure, and Corrective Action), to provide financial assurance, except as specified in this section. The mechanisms must ensure that the funds necessary to meet the costs of closure, post closure, or corrective action shall be available when requested by the executive director.
(b) An owner or operator may use a fully funded trust, pay-in trust, or standby trust as provided in § 37.201 of this title (relating to Trust Fund), except the pay-in period is ten years or over the remaining life of the municipal solid waste facility, whichever is shorter, unless the owner or operator satisfies the requirements of paragraph (1) of this subsection.
(c) An owner or operator may use a surety bond guaranteeing payment as provided in § 37.211 of this title (relating to Surety Bond Guaranteeing Payment), or a surety bond guaranteeing performance as provided in § 37.221 of this title (relating to Surety Bond Guaranteeing Performance), except a payment bond may not be used to provide financial assurance for corrective action.
(d) An owner or operator may use insurance as provided in § 37.241 of this title (relating to Insurance), except:
(e) An owner or operator may use a corporate financial test as provided in § 37.8061 of this title (relating to Corporate Financial Test for Municipal Solid Waste Facilities), except the owner or operator may not use the financial test under § 37.251 of this title (relating to Financial Test).