15A NCAC 02O .0503       INCAPACITY OF OWNER OR OPERATOR OR PROVIDER OF ASSURANCE

(a)  The provisions for "Bankruptcy or Other Incapacity of Owner or Operator or Provider of Financial Assurance" contained in 40 CFR 280.110, except for Subsection 280.110(d), are hereby incorporated by reference including any subsequent amendments and editions.  Locations where this material is available are specified in Rule .0102 of this Subchapter.

(b)  Within 30 days after receipt of notification that the Commercial Leaking Petroleum Underground Storage Tank Cleanup Fund has become incapable of paying for assured corrective action or third‑party compensation costs, the owner or operator must obtain financial assurance for the full amounts specified in Rule .0204, Paragraphs (a) and (c), of this Subchapter.

(c)  Within 30 days after receipt of notification that the Noncommercial Leaking Petroleum Underground Storage Tank Cleanup Fund has become incapable of paying for additional cleanup actions to be undertaken by the Department, any owner or operator or guarantor who self insures or guarantees based on Rule .0302, Paragraph (b), of this Subchapter must obtain financial assurance for at least twice the amount specified in Rule .0204, Paragraph (d), of this Subchapter assured in accordance with Rule .0302, Paragraph (b), of this Subchapter.

 

History Note:        Authority G.S. 143‑215.94H; 143‑215.94T; 150B‑21.6;

Eff. July 1, 1992.