Wisconsin Administrative Code
Department of Agriculture, Trade and Consumer Protection
ATCP 90-139 - Trade and Consumer Protection
Chapter ATCP 93 - Flammable, Combustible, And Hazardous Liquids
Subchapter VII - Financial Responsibility
Section ATCP 93.703 - Definitions

(1) " Accidental release" means any release of petroleum arising from operating a storage tank system that results in a need for corrective action or compensation for bodily injury or property damage neither expected nor intended by the tank owner or operator.

(2) " Affidavit of financial responsibility" means a form, supplied by the department on which the owner and operator attest to compliance with 40 CFR 280.111.

Note: The affidavit of financial responsibility is available from the Bureau of Weights and Measures, PO Box 8911, Madison, WI 53708-8911, or by telephone at (608) 224-4942, or from the Bureau's Web site at https://datcp.wi.gov/Pages/Programs_Services/PetroleumHazStorageTanksForms.aspx.

Note: The affidavit of financial responsibility is required in addition to the certification showing the specific type of financial responsibility. See s. ATCP 93.745(2) (j) for further information.

(3) " Aggregate" means an accident or a continuous or repeated exposure to conditions that result in a release from a storage tank system which might occur in one year.

Note: This definition is intended to assist in the understanding of these regulations and is not intended either to limit the meaning of "aggregate" in a way that conflicts with standard insurance usage or to prevent the use of other standard insurance terms in place of "aggregate."

(4) " Bodily injury" has the meaning given to this term by applicable Wisconsin statutes; however, this term does not include those liabilities that, consistent with standard insurance industry practices, are excluded from coverage in liability insurance policies for bodily injury.

Note: For further information about this term, see ch. Ins 6, which interprets this term as it is used in s. 292.63(1) (ad), Stats., for petroleum storage environmental cleanup.

(5) " Controlling interest" means direct ownership of at least 50 percent of the voting stock of another entity.

(6) " Financial reporting year" means the latest consecutive 12-month period for which any of the following reports are prepared:

(7) " Legal defense cost" means any expense that an owner or operator or provider of financial assurance incurs in defending against claims or actions brought by any of the following:

(8) " Occurrence" means an accident, or a continuous or repeated exposure to conditions, that results in a release from a storage tank system.

Note: This definition is intended to assist in the understanding of these regulations and is not intended either to limit the meaning of "occurrence" in a way that conflicts with standard insurance usage or to prevent the use of other standard insurance terms in place of "occurrence."

(9) " Operation" or "in operation" means the underground storage tank was used to store a regulated substance at any time after December 22, 1988, regardless of the current status of the tank.

(10) " Owner or operator," when the owner or operator are separate parties, means the party that is obtaining or has obtained financial assurances.

(11) " Petroleum marketing facilities" means all facilities at which petroleum is produced or refined and all facilities from which petroleum is sold or transferred to other petroleum marketers or to the public.

(12) " Petroleum marketing firms" means all firms owning petroleum marketing facilities. Firms owning other types of facilities with tanks covered in the scope of this subchapter as well as petroleum marketing facilities are considered to be petroleum marketing firms.

(13) " Property damage" has the meaning given to this term by administrative rules of the office of commissioner of insurance. This term does not include those liabilities that, consistent with standard insurance industry practices, are excluded from coverage in liability insurance policies for property damage. However, such exclusions for property damage do not include corrective action associated with releases from tanks that are covered by the policy.

Note: For further information about this term, see ch. Ins 6, which interprets this term as it is used in s. 292.63(1) (ad), Stats. for petroleum storage environmental cleanup.

(14) " Provider of financial assurance" means an entity that provides financial assurance to an owner or operator of a tank system covered in this subchapter through one of the mechanisms listed in ss. ATCP 93.710 to 93.735, including a guarantor, insurer, risk retention group, surety, issuer of a letter of credit, issuer of a state-required mechanism, or a state.

(15) " Substantial business relationship" means the extent of a business relationship necessary under Wisconsin law to make a guarantee contract issued incident to that relationship valid and enforceable. A guarantee contract is issued incident to that relationship if it arises from and depends on current economic transactions between the guarantor and the owner or operator.

(16) " Tangible net worth" means the tangible assets that remain after deducting liabilities; the assets do not include intangibles such as goodwill and rights to patents or royalties. For purposes of this definition, "assets" means all current and all probable future economic benefits obtained or controlled by a particular entity as a result of past transactions.