SECTION 37.4021. Financial Assurance Requirements for Post-Response Action Care

(a) The financial assurance provided shall be in the amount specified in the most recent post response action care cost estimate required by §350.33(l), (m), or (n), as applicable, of this title (relating to Remedy Standard B).

(b) A person subject to this subchapter may use any of the financial assurance mechanisms specified in Subchapter C of this chapter (relating to Financial Assurance Mechanisms for Closure, Post Closure, and Corrective Action) to demonstrate financial assurance for post response action care, except that a pay-in trust fund may not be used and a standby trust as specified in §37.161 of this title (relating to Establishment of a Standby Trust) is not required.

(c) A person who is required to provide financial assurance shall do so in accordance with §37.31 of this title (relating to Submission of Documents), but must submit the financial assurance within 90 days of the executive director's approval of the Response Action Plan.

(d) A person required to provide financial assurance is not subject to §37.131 of this title (relating to Annual Inflation Adjustments to Closure Estimates).

(e) If an affected property undergoing post response action care does not have an agency registration or permit number, any references to the agency registration or permit number in the wording of mechanisms specified in Subchapter D of this chapter (relating to Wording of the Mechanisms for Closure, Post Closure, and Corrective Action) may be replaced with any other applicable name or number assigned by the agency to the subject property.

Source Note: The provisions of this §37.4021 adopted to be effective September 23, 1999, 24 TexReg 7413; amended to be effective March 21, 2000, 25 TexReg 2347