N.D. Admin Code 33.1-24-08-84 - Allowable mechanisms and combinations of mechanisms

1. Subject to the limitations of subsections 2 and 3, an owner or operator, including a local government owner or operator may use any one or combination of the mechanisms listed in sections 33.1-24-08-85 through 33.1-24-08-93 to demonstrate financial responsibility under sections 33.1-24-08-80 through 33.1-24-08-106 for one or more underground storage tanks.

2. A local government owner or operator may use any one or combination of the mechanisms listed in sections 33.1-24-08-94 through 33.1-24-08-97 to demonstrate financial responsibility under sections 33.1-24-08-80 through 33.1-24-08-106 for one or more underground storage tanks.

3. An owner or operator may use a guarantee under section 33.1-24-08-86 or surety bond under section 33.1-24-08-88 to establish financial responsibility only if the attorney general has submitted a written statement to the department that a guarantee or surety bond executed as described in this section is a legally valid and enforceable obligation in the state.

4. An owner 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 chapter, the financial statements of the owner or operator are not consolidated with the financial statements of the guarantor.

Notes

N.D. Admin Code 33.1-24-08-84

Adopted by Administrative Rules Supplement 370, October 2018, effective 1/1/2019.

General Authority: NDCC 23.1-04-03, 23.1-04-06; S.L. 2017, ch. 199, § 1

Law Implemented: NDCC 23.1-04-06; S.L. 2017, ch. 199, § 19