33 CFR 135.213 - Qualification as self-insurer.

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There is 1 rule appearing in the Federal Register for 33 CFR 135. View below or at eCFR (GPOAccess)
§ 135.213 Qualification as self-insurer.
(a) Qualification for self insurance must be supported by a copy of the self-insurer's current balance sheet, income statement, and statement of changes in financial position that are certified by an independent Certified Public Accountant and must be accompanied by either:
(1) An additional statement confirming that the self-insurer's current U.S. assets, including those of consolidated subsidiaries held in the U.S., not including pledged assets or stock not publicly traded, exceed the current U.S. liabilities, and the self-insurers net worth exceeds the amount of the requested self-insurance; or
(2) A statement, based on an analysis of the self-insurer's financial position, which shows that sufficient assets or cash flow, other than which might be damaged as a result of a pollution incident, are available which may be liquidated to provide the funds necessary to retire a claim for the amount of the self-insurance without placing the self-insurer in an insolvent position.
(b) The statements required by paragraphs (a) (1) and (2) of this section must be prepared and submitted by the involved Certified Public Accountant when the required financial statements are prepared in consolidated form and the liability represents less than the full financial backing of the consolidated entity, otherwise they may be prepared and submitted by the Treasurer or equivalent official.
(c) If the self-insurer files a Securities and Exchange Commission Form 10-K report, a copy of the self-insurer's most recent 10-K report must be filed with the Fund Administrator within 120 days after the end of the fiscal year to which it relates, in addition to filing the most recent 10-K report with the initial application.
(d) Each self-insurer must file annually with the Fund Administrator, copies of documents required under paragraph (a) of this section, within 120 days after the close of the self-insurer's fiscal accounting period. If a self-insurer files a 10-K report with the Fund Administrator under paragraph (c) of this section which contains some of the financial statements required in paragraph (a), a separate filing of those specific statements need not be made.

Title 33 published on 2014-07-01

The following are only the Rules published in the Federal Register after the published date of Title 33.

For a complete list of all Rules, Proposed Rules, and Notices view the Rulemaking tab.

  • 2014-07-07; vol. 79 # 129 - Monday, July 7, 2014
    1. 79 FR 38422 - Navigation and Navigable Waters; Technical, Organizational, and Conforming Amendments
      GPO FDSys XML | Text
      DEPARTMENT OF HOMELAND SECURITY, Coast Guard
      Final rule.
      This final rule is effective July 7, 2014.
      33 CFR Parts 1, 3, 8, 13, 19, 23, 25, 26, 27, 51, 52, 67, 80, 81, 84, 89, 96, 104, 105, 110, 114, 116, 117, 118, 120, 126, 127, 128, 135, 140, 141, 144, 148, 151, 153, 154, 155, 156, 157, 158, 159, 160, 161, 164, 165, 167, 169, 174, 179, 181, and 183

Title 33 published on 2014-07-01

The following are ALL rules, proposed rules, and notices (chronologically) published in the Federal Register relating to 33 CFR 135 after this date.

  • 2014-07-07; vol. 79 # 129 - Monday, July 7, 2014
    1. 79 FR 38422 - Navigation and Navigable Waters; Technical, Organizational, and Conforming Amendments
      GPO FDSys XML | Text
      DEPARTMENT OF HOMELAND SECURITY, Coast Guard
      Final rule.
      This final rule is effective July 7, 2014.
      33 CFR Parts 1, 3, 8, 13, 19, 23, 25, 26, 27, 51, 52, 67, 80, 81, 84, 89, 96, 104, 105, 110, 114, 116, 117, 118, 120, 126, 127, 128, 135, 140, 141, 144, 148, 151, 153, 154, 155, 156, 157, 158, 159, 160, 161, 164, 165, 167, 169, 174, 179, 181, and 183