Mississippi Administrative Code › Title 11 - Mississippi Department of Environmental Quality › Part 5 - Underground Storage Tank Regulations › Chapter 2 - Mississippi Commission on Environmental Quality Underground Storage Tanks Regulations Technical Standards and Corrective Action Requirements for Owners and Operators of Underground Storage Tanks (UST) (Adopted March 22, 1989; Amended August 25, 2011, Last Amended August 23, 2018) › Rule 11-5-2.8 - Financial Responsibility › Section 11-5-2.8-280.101 - State fund or other state assurance

Current through June 25, 2024
(a) An owner or
				  operator may satisfy the requirements of § 280.93 for underground storage
				  tanks located in a state, where EPA is administering the requirements of this
				  rule, which assures that monies will be available from a state fund or state
				  assurance program to cover costs up to the limits specified in § 280.93 or
				  otherwise assures that such costs will be paid if the Regional Administrator
				  determines that the state's assurance is at least equivalent to the financial
				  mechanisms specified in this rule.
(b) The Regional Administrator will evaluate
				  the equivalency of a state fund or other state assurance principally in terms
				  of: Certainty of the availability of funds for taking corrective action and/or
				  for compensating third parties; the amount of funds that will be made
				  available; and the types of costs covered. The Regional Administrator may also
				  consider other factors as is necessary.
(c) The state must submit to the Regional
				  Administrator a description of the state fund or other state assurance to be
				  supplied as financial assurance, along with a list of the classes of
				  underground storage tanks to which the funds may be applied. The Regional
				  Administrator may require the state to submit additional information as is
				  deemed necessary to make a determination regarding the acceptability of the
				  state fund or other state assurance. Pending the determination by the Regional
				  Administrator, the owner or operator of a covered class of USTs will be deemed
				  to be in compliance with the requirements of § 280.93 for the amounts and
				  types of costs covered by the state fund or other state assurance.
(d) The Regional Administrator will notify
				  the state of his determination regarding the acceptability of the state's fund
				  or other assurance in lieu of financial mechanisms specified in this rule.
				  Within 60 days after the Regional Administrator notifies a state that a state
				  fund or other state assurance is acceptable, the state must provide to each
				  owner or operator for which it is assuming financial responsibility a letter or
				  certificate describing the nature of the state's assumption of responsibility.
				  The letter or certificate from the state must include, or have attached to it,
				  the following information: the facility's name and address and the amount of
				  funds for corrective action and/or for compensating third parties that is
				  assured by the state. The owner or operator must maintain this letter or
				  certificate on file as proof of financial responsibility in accordance with
				  § 280.111(b) ( 8).