Missouri Code of State Regulations › Title 10 - DEPARTMENT OF NATURAL RESOURCES › Division 26 - Petroleum and Hazardous Substance Storage Tanks › Chapter 3 - Underground Storage Tanks- Financial Responsibility › Section 10 CSR 26-3.110 - Bankruptcy or Other Incapacity of Owner or Operator, or Provider of Financial Assurance

Current through Register Vol. 49, No. 14, July 15, 2024
PURPOSE: The owner or operator, or financial
				  assurance provider shall notify the department of bankruptcy proceedings
				  affecting the availability of financial responsibility.
(1) Within ten (10) days after commencement
				of a voluntary or involuntary proceeding under Title 11 (Bankruptcy),
United States Code
, naming an owner or operator as debtor, the
				owner or operator shall notify the director by certified mail of the
				commencement and submit the appropriate forms listed in
				10 CSR
				26-3.107(2) documenting current
				financial responsibility.
(2)
				Within ten (10) days after commencement of a voluntary or involuntary
				proceeding under Title 11 (Bankruptcy),
United States Code
,
				naming a guarantor providing financial assurance as debtor, this guarantor
				shall notify the owner or operator by certified mail of the commencement as
				required under the terms of the guarantee specified in
				10 CSR
				26-3.096.
(3) Within ten (10) days after commencement
				of a voluntary or involuntary proceeding under Title 11 (Bankruptcy),
United States Code
, naming a local government owner or
				operator as debtor, the local government owner or operator shall notify the
				director by certified mail of the commencement and submit the appropriate forms
				listed in
				10 CSR
				26-3.107(2) documenting current
				financial responsibility.
(4)
				Within ten (10) days after commencement of a voluntary or involuntary
				proceeding under Title 11 (Bankruptcy),
United States Code
,
				naming a guarantor providing a local government financial assurance as debtor,
				this guarantor shall notify the local government owner or operator by certified
				mail of the commencement as required under the terms of the guarantee specified
				in
				10 CSR
				26-3.106.
(5) An owner or operator who obtains
				financial assurance by a mechanism other than the financial test of
				self-insurance will be deemed to be without the required financial assurance in
				the event of a bankruptcy or incapacity of its provider of financial assurance,
				or a suspension or revocation of the authority of the provider of financial
				assurance to issue a guarantee, insurance policy, risk retention group coverage
				policy, surety bond, or letter of credit. The owner or operator shall obtain
				alternate financial assurance as specified in
				10 CSR 26-3.090
				through
				10 CSR
				26-3.115 within thirty (30) days after receiving
				notice of the event. If the owner or operator does not obtain alternate
				coverage within thirty (30) days after notification, s/he shall notify the
				director.
(6) Within thirty (30)
				days after receipt of notification that the Petroleum Storage Tank Insurance
				Fund has become incapable of paying for assured corrective action or
				third-party compensation costs, the owner or operator shall obtain alternate
				financial assurance.
*Original authority: 319.114, RSMo 1989 and 319.129, RSMo
					 1989, amended 1991, 1996, 1998, 2001,
					 2008.