Administrative Rules of Montana › Department 17 - ENVIRONMENTAL QUALITY › Chapter 17.56 - UNDERGROUND STORAGE TANKS PETROLEUM AND CHEMICAL SUBSTANCES › Subchapter 17.56.8 - Financial Responsibility › Rule 17.56.823 - RECORDKEEPING

Current through Register Vol. 13, July 5, 2024
(1) Owners or operators must maintain
				evidence of all financial assurance mechanisms used to demonstrate financial
				responsibility under this subchapter for an underground storage tank until
				released from the requirements of this subchapter under ARM
				17.56.825. An owner or operator
				must maintain such evidence at the underground storage tank site or the owner's
				or operator's place of business. Records maintained off-site must be made
				available upon request of the department.
(2) An owner or operator must maintain the
				following types of evidence of financial responsibility:
(a) An owner or operator using an assurance
				mechanism specified in ARM
				17.56.807 through
				17.56.811, and
				17.56.815 or
				17.56.816 must maintain a copy of
				the instrument worded as specified.
(b) An owner or operator using a financial
				test or guarantee 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. Such evidence must be on file no later than 120 days after the
				close of the financial reporting year.
(c) 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.
(d) 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.
(e) An owner or operator covered by the
				Montana petroleum tank release cleanup fund must maintain on file a copy of any
				evidence of coverage supplied by or required by the state under ARM
				17.56.815.
(f) An owner or operator
				using an assurance mechanism specified in ARM
				17.56.807 through 17.56.811,
				17.56.815, and 17.56.816 must maintain an updated copy of a certification of
				financial responsibility worded as follows, except that instructions in
				brackets are to be replaced with the relevant information and the brackets
				deleted:
Certification of Financial Responsibility
[Owner or operator] hereby certifies that it is in compliance
				  with the requirements of ARM Title 17, chapter 56, subchapter 8.
The financial assurance mechanism[s] used to demonstrate
				  financial responsibility under ARM Title 17, chapter 56, subchapter 8, is [are]
				  as follows:
[For each mechanism, list the type of mechanism, name of
				  issuer, mechanism number (if applicable), amount of coverage, effective period
				  of coverage and whether the mechanism covers "taking corrective action" and/or
				  "compensating third parties for bodily injury and property damage caused by"
				  either "sudden accidental releases" or "nonsudden accidental releases" or
				  "accidental releases."]
[Signature of owner or operator]
[Name of owner or operator]
[Title]
[Date]
[Signature of witness or notary]
[Name of witness or notary]
[Date]
The owner or operator must update this certification whenever
				  the financial assurance mechanism(s) used to demonstrate financial
				  responsibility change(s).