329 IAC 16-11-1 - Financial assurance for cleanup and closure
Authority: IC 13-14-8-7; IC 13-15; IC 13-19-3
Affected: IC 13-14; IC 13-30-2; IC 36-9-30
Sec. 1.
(a) All
owners, operators, and registrants that are required to register under this
article shall establish financial responsibility with the department for
closure of the registered facility. The following mechanisms may be used to
provide financial responsibility:
(1) A trust
fund as specified in section 2 of this rule.
(2) A surety bond as specified in section 3
of this rule.
(3) A letter of
credit as specified in section 4 of this rule.
(4) Insurance as specified in section 5 of
this rule.
(b) The
financial responsibility must be in the amount that will provide for closure of
the registered facility if the owner, operator, or registrant has failed to
close the registered facility. The amount that will provide for closure is
determined by multiplying the maximum amount in tons of e-waste, electronic
devices, and electronic debris on site at any one (1) time by two hundred
dollars ($200).
(c) If there is a
change to the maximum amount of e-waste, electronic devices, and electronic
debris specified in
329 IAC
16-5-1(f)(5), the owner, operator, or
registrant must update the amount in subsection (b) within thirty (30) days
after the change.
(d) For
electronic waste brokers handling only intact electronic devices, a current
contract with another person to pick up all electronic devices that is provided
to the department will serve in lieu of the financial assurance mechanism as
required in subsection (a).
(e) The
owner, operator, or registrant may use a single financial assurance mechanism
to meet the requirements for more than one (1) facility. Evidence of financial
responsibility submitted to the commissioner must include a list showing, for
each facility, the following:
(1) The
registration number, name, and address.
(2) The amount of funds available through the
financial assurance mechanism that must be not less than the sum of funds that
would be available if a separate mechanism had been established and maintained
for each facility.
(f)
An owner, operator, or registrant shall do the following:
(1) Notify the commissioner by certified mail
within ten (10) days after commencement of a voluntary or involuntary
proceeding under bankruptcy under
11
U.S.C. 101 et seq., October 1, 1979, naming
the owner, operator, or registrant as debtor. An owner, operator, or registrant
who has a financial assurance mechanism shall be deemed to be without the
required financial responsibility in the event of bankruptcy of the institution
issuing the financial assurance mechanism.
(2) Reestablish financial responsibility
within sixty (60) days after loss of a financial assurance mechanism due to
bankruptcy. The registered facility cannot operate outside the sixty (60) day
period without establishing a financial assurance mechanism for the amount
required under subsection (b).
(g) In addition to any other penalties
provided for in this article or in IC 13-14 and IC 13-30, any failure to
obtain, maintain, or fund financial assurance as required by this rule within
the prescribed time limits shall be:
(1)
deemed to endanger human health or the environment; and
(2) grounds for a proceeding to revoke the
facility's registration or to order final closure of the registered
facility.
(h) After the
closure certification is deemed adequate by the commissioner and the facility
is so notified in writing by the commissioner, the owner, operator, or
registrant of the registered facility is released from the obligation of
maintaining financial assurance under this article.
Notes
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