Virginia Administrative Code
Title 9 - ENVIRONMENT
Agency 25 - STATE WATER CONTROL BOARD
Chapter 640 - ABOVEGROUND STORAGE TANK AND PIPELINE FACILITY FINANCIAL RESPONSIBILITY REQUIREMENTS
Section 9VAC25-640-180 - Drawing on financial assurance mechanisms
Current through Register Vol. 41, No. 3, September 23, 2024
A. The department may require the guarantor, surety, or institution issuing a letter of credit or certificate of deposit to pay to the department an amount up to the limit of funds provided by the financial assurance mechanism if:
B. The department shall deposit the financial assurance funds forfeited pursuant to subsection A of this section into the Virginia Petroleum Storage Tank Fund. The department may use the financial responsibility funds obtained pursuant to subsection A of this section to conduct containment and cleanup when it makes a final determination that a discharge has occurred and immediate or long-term containment and/or clean up for the discharge is needed, and the operator, after appropriate notice and opportunity to comply, has not conducted containment and clean up as required under 9VAC25-91.
Statutory Authority: §§ 62.1-44.15 and 62.1-44.34:16 of the Code of Virginia.