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 93.747 - Drawing on financial assurance mechanisms

Universal Citation: WI Admin Code § ATCP 93.747

Current through November 25, 2024

(1)

(a) The department shall require the guarantor, surety, or institution issuing a letter of credit to place the amount of funds stipulated by the department, up to the limit of funds provided by the financial assurance mechanism, into the standby trust if the conditions under either par. (b) or (c) apply.

(b)
1. The owner or operator fails to establish alternate financial assurance within 60 days after receiving notice of cancellation of the guarantee, surety bond, letter of credit, or other financial assurance mechanism.

2. The department determines or suspects that a release from a storage tank covered by the mechanism has occurred and so notifies the owner or operator, or the owner or operator has notified the department of natural resources pursuant to s. ATCP 93.585 of a release from a storage tank covered by the mechanism.

(c) The conditions of sub. (2) (b) or (c) 1. or 2. are satisfied.

(2)

(a) The department may draw on a standby trust fund when the conditions under either par. (b) or (c) apply.

(b) The department makes a final determination that a release has occurred and immediate or long-term corrective action for the release is needed, and the owner or operator, after appropriate notice and opportunity to comply, has not conducted corrective action in accordance with ss. ATCP 93.570 to 93.585.

(c) The department has received one of the following:
1. Certification from the owner or operator and the third-party liability claimants and from attorneys representing the owner or operator and the third-party liability claimants that a third-party liability claim should be paid. The certification shall be worded exactly as specified in 40 CFR 280.112(b) (2) (i), except for the following:
a. The instructions in brackets in the certification shall be replaced by the relevant information and the brackets deleted.

b. If financial responsibility for aboveground tanks within the scope of this subchapter is demonstrated using this method, reference in the certification to underground tanks shall be amended to refer to aboveground tanks, and any certification that wording is identical to the wording required in 40 CFR 280.112(b) (2) (i) shall be deleted.

Note: A copy of the affidavit of financial responsibility required in 40 CFR 280.111(b) (2) (i) is available from the department's Web site at https://datcp.wi.gov/Pages/Programs_Services/PetroleumHazStorageTanks.aspx.

2. A valid final court order establishing a judgment against the owner or operator for bodily injury or property damage caused by an accidental release from a storage tank covered by financial assurance under this subchapter and the department determines that the owner or operator has not satisfied the judgment.

(3) If the department determines that the amount of corrective-action costs and third-party liability claims eligible for payment under sub. (2) may exceed the balance of the standby trust fund and the obligation of the provider of financial assurance, the first priority for payment shall be corrective action costs necessary to protect human health and the environment. The department shall pay third-party liability claims in the order in which the department receives certifications under sub. (2) (c) 1. and valid court orders under sub. (2) (c) 2.

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