30 Tex. Admin. Code § 37.875 - Financial Assurance Recordkeeping
(a)
Owners or operators must maintain proof of all financial assurance mechanisms
used to demonstrate financial assurance under this subchapter for a petroleum
underground storage tank (UST) until released from the requirements of this
subchapter under §
37.885 of this title (relating to
Release from the Requirements). An owner or operator must maintain this
evidence at the UST site or the owner's or operator's place of business.
Records maintained off-site must be made available in a timely manner upon
request of the agency.
(b) An owner
or operator must maintain the following types of evidence of financial
assurance.
(1) An owner or operator using a
financial assurance mechanism specified in §
37.825 of this title (relating to
Financial Test of Self-Insurance), §
37.830 of this title (relating to
Guarantee), §
37.835 of this title (relating to
Insurance and Risk Retention Group Coverage), §
37.840 of this title (relating to
Surety Bond), §
37.845 of this title (relating to
Letter of Credit), §
37.850 of this title (relating to
Trust Fund), §
37.855 of this title (relating to
Standby Trust Fund), and 40 Code of Federal Regulations
§§280.104-280.107 (relating to Local Government Bond Rating Test,
Local Government Financial Test, Local Government Guarantee, and Local
Government Fund, respectively) must maintain a copy of the instrument worded as
specified.
(2) An owner or operator
using a financial test or guarantee, or a local government financial test, or a
local government guarantee supported by the local government financial test
must maintain a copy of the chief financial officer's letter based on year-end
financial statements for the most recent completed financial reporting year.
This documentation must be on file no later than 120 days after the close of
the financial reporting year.
(3)
An owner or operator using a guarantee, surety bond, or letter of credit must
maintain a copy of the signed standby trust fund agreement and copies of any
amendments to the agreement.
(4) An
owner or operator using an insurance policy or risk retention group coverage
must maintain a copy of the signed insurance policy or risk retention group
coverage policy, with the endorsement or certificate of insurance and any
amendments to the agreements.
(5) A
local government owner or operator must comply with the recordkeeping
requirements of
40
CFR §280.111(b)(4) -(6)
and (9)-(10) as applicable to the local government mechanism used to
demonstrate financial assurance.
Notes
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