122 Neb. Admin. Code, ch. 13, § 002 - Methods of Providing Financial Responsibility

002.01 The applicant shall choose among the following options in establishing financial responsibility:
002.01A An Environmental Protection Trust. An owner or operator may satisfy the requirements of this Chapter by establishing an Environmental Protection Trust. This standby trust shall be sufficient to compensate for all the environmental protection costs as specified in section 001 of this Chapter. An Environmental Protection Trust must fulfill the requirements in Section 004 of this Chapter;
002.01B A surety bond guaranteeing payment into an Environmental Protection Trust. This bond must be worded as in Appendix II of this Title and would work in tandem with the stand-by Trust provided for in Section 002.01A of this Chapter. A surety bond must comply with the requirements in Section 005 of this Chapter;
002.01C A collateral bond, in which case the applicant shall deposit, with a bank acceptable to the Department, cash, negotiable bonds issued by the United States or the State; or negotiable certificates of deposit; or deliver to the Department an irrevocable letter of credit of any banks or other savings institution organized or transacting business in the United States. The bank shall receive and hold any collateral bond in the name of the State, in trust, for the purposes for which the deposit is posted. The applicant shall pay all costs of the trust, and shall be paid all interest accruing to the account of the trust. A collateral bond must fulfill the requirements in Section 006 of this Chapter;
002.01D An established escrow account;
002.01E A bond of the applicant without separate surety upon a satisfactory demonstration to the Director that such applicant has the financial means sufficient to self-bond pursuant to bonding requirements specified in Section 009 of this Chapter; or
002.01F Any combination of the above.

Notes

122 Neb. Admin. Code, ch. 13, § 002

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