Wyoming Administrative Code
Agency 020 - Environmental Quality, Dept. of
Sub-Agency 0011 - Water Quality
Chapter 19 - FINANCIAL ASSURANCE FOR UNDERGROUND STORAGE TANKS
Section 19-7 - Allowable Mechanisms and Combinations of Mechanisms
Current through September 21, 2024
(a) Owners and/or operators of petroleum underground storage tanks or contaminated sites not eligible for the state corrective action program shall use any one or combination of the mechanisms to demonstrate financial responsibility under this chapter for one or more underground storage tanks. Demonstration shall be pursuant to the requirements of 40 CFR 280.95, 280.96, 280.97, 280.98, 280.99, 280.102, and/or 280.103 and for local governments, 280.104, 280.105, 280.106, and 280.107, and the demonstration must be executed on forms provided by the department. The allowable mechanisms include financial test of self-insurance, guarantee, insurance and risk retention group coverage, surety bond, letter of credit, and/or trust fund and additionally for local governments, a bond rating test, local government financial test, local government guarantee, and local government fund.
(b) An owner and/or operator may use self-insurance in combination with a guarantee only if, for the purpose of meeting the requirements of the financial test under this section, the financial statements of the owner and/or operator are not consolidated with the financial statements of the guarantor.
(c) The department's trust and agency account will serve as the standby trust fund as described in 40 CFR 280.103, which is required in conjunction with a guarantee, surety bonds, and letters of credit.
