Utah Administrative Code
Topic - Environmental Quality
Title R315 - Waste Management and Radiation Control, Waste Management
Rule R315-309 - Financial Assurance
Section R315-309-2 - General Requirements
Current through Bulletin 2024-06, March 15, 2024
(1) A financial assurance plan, including the assurance mechanism proposed for use, shall be submitted:
(2) The financial assurance shall be updated each year as part of the annual report required by Subsection R315-302-2(4) to adjust for inflation or facility modification that would affect closure or post-closure care costs. The annual update of the financial assurance shall be reviewed and must be approved by the Director prior to implementation.
(3) Financial assurance cost estimates shall be based on a third party preforming closure or post- closure care.
(4) Any facility for which financial assurance is required for post-closure care must have a financial assurance mechanism, which will cover the costs of post-closure care, in effect and active until the Director determines that the post-closure care is complete.
(5) Financial assurance for corrective action shall be required only in cases of known releases of contaminants from a facility and shall be a current cost estimate for corrective action based on the most expensive cost of a third party performing the corrective action that may be required.