Indiana Administrative Code › Title 329 - SOLID WASTE MANAGEMENT DIVISION › Article 3.1 - HAZARDOUS WASTE MANAGEMENT PERMIT PROGRAM AND RELATED HAZARDOUS WASTE MANAGEMENT › Rule 14 - Financial Requirements for Owners and Operators of Interim Status Hazardous Waste Treatment, Storage, and Disposal Facilities › Section 14-33 - Wording of guarantees for corrective action, closure, or post-closure care

Current through July 10, 2024
Authority: IC 13-14-8; IC 13-22-2; IC 13-22-8-1; IC
				  13-22-9-7
Affected: IC 13-22
Sec. 33.
A guarantee, as specified in section 9 or 19 of this rule,
				  329 IAC
				  3.1-15-4(g), or
				  329 IAC
				  3.1-15-6(g),
				  329 IAC
				  3.1-15-10(h)), must be worded as
				  follows except that instructions in brackets are to be replaced with the
				  relevant information and the brackets deleted:
Guarantee for Corrective Action, Closure, or Post-Closure
				  Care
Guarantee made this [date] by [name of guaranteeing entity],
				  a business corporation organized under the laws of the State of [insert state's
				  name], herein referred to as guarantor. This guarantee is made on behalf of the
				  [owner or operator] of [business address], which is [one (1) of the following:
				  "our subsidiary" or "a subsidiary of [name and address of common parent
				  corporation], of which guarantor is a subsidiary"] to the Department of
				  Environmental Management of the State of Indiana (IDEM).
Recitals
1. Guarantor
				meets or exceeds the financial test criteria and agrees to comply with the
				reporting requirements for guarantors in accordance with
				329 IAC
				3.1-14-9 and
				329
				IAC 3.1-14-19 or
				329 IAC
				3.1-15-4(g)  and
				329 IAC
				3.1-15-6(g).
2. [Owner or operator] owns or operates the
				following hazardous waste management facility(ies) covered by this guarantee:
				[List for each facility: U.S. EPA identification number, name, and address.
				Indicate for each whether guarantee is for corrective action, closure, and/or
				post-closure. ]
3. "Corrective
				action plan", "closure plan", and "post-closure plan" as used below refer to
				the plans maintained as required by
				329
				IAC 3.1-14 and
				329
				IAC 3.1-15 for the corrective action, closure, and
				post-closure care of facilities as identified above.
4. For value received from [owner or
				operator], guarantor guarantees to IDEM that in the event that [owner or
				operator] fails to perform [insert "corrective action", "closure", and/or
				"post-closure care"] of the above facility(ies) in accordance with the
				corrective action, closure, or post-closure plans and other permit or interim
				status requirements whenever required to do so, the guarantor shall do so or
				establish a trust fund in accordance with
				329
				IAC 3.1-14 and
				329
				IAC 3.1-15, as applicable, in the name of [owner or
				operator] in the amount of the current corrective action, closure, or
				post-closure cost estimates determined in accordance with
				329
				IAC 3.1-14 and
				329
				IAC 3.1-15.
5. Guarantor agrees that if, at the end of
				any fiscal year before termination of this guarantee, the guarantor fails to
				meet the financial test criteria, guarantor shall send within ninety (90) days,
				by certified mail, notice to the IDEM commissioner and to [owner or operator]
				that the guarantor intends to provide alternate financial assurance in
				accordance with
				329
				IAC 3.1-14 and
				329
				IAC 3.1-15, as applicable, in the name of [owner or
				operator]. Within one hundred twenty (120) days after the end of such fiscal
				year, the guarantor shall establish such financial assurance unless [owner or
				operator] has done so.
6. The
				guarantor agrees to notify the IDEM commissioner by certified mail, of a
				voluntary or involuntary bankruptcy proceeding under
				11
				U.S.C. 101 et seq., naming guarantor as
				debtor, within ten (10) days after commencement of the proceeding.
7. Guarantor agrees that within thirty (30)
				days after being notified by the IDEM commissioner of a determination that
				guarantor no longer meets the financial test criteria or that the guarantor is
				disallowed from continuing as a guarantor of corrective action, closure, or
				post-closure care, the guarantor shall establish alternate financial assurance
				in accordance with
				329
				IAC 3.1-14 and
				329
				IAC 3.1-15, as applicable, in the name of [owner or
				operator] unless [owner or operator] has done so.
8. Guarantor agrees to remain bound under
				this guarantee notwithstanding any or all of the following: amendment or
				modification of the corrective action, closure, or post-closure plan, amendment
				or modification of the permit, the extension or reduction of the time of
				performance of corrective action, closure, or post-closure, or any other
				modification or alteration of an obligation of the owner or operator pursuant
				to
				329
				IAC 3.1-10 or
				329
				IAC 3.1-9.
9. Guarantor agrees to remain bound under
				this guarantee for so long as [owner or operator] must comply with the
				applicable financial assurance requirements of
				329
				IAC 3.1-14 and
				329
				IAC 3.1-15 for the above-listed facilities except as
				provided in paragraph 10 of this guarantee.
10. Guarantor may terminate this guarantee by
				sending notice by certified mail to the IDEM commissioner and to [owner or
				operator], provided that this guarantee may not be terminated unless and until
				[owner or operator] obtains, and the IDEM commissioner approves, alternate
				corrective action, closure, and/or post-closure care coverage complying with
				329
				IAC 3.1-14 or
				329
				IAC 3.1-15, or both.
11. Guarantor agrees that if [owner or
				operator] fails to provide alternate financial assurance in accordance with
				329
				IAC 3.1-14 and
				329
				IAC 3.1-15, as applicable, and obtain written approval
				of such assurance from the IDEM commissioner within ninety (90) days after a
				notice of cancellation by the guarantor is received by the IDEM commissioner
				from guarantor, guarantor shall provide such alternate financial assurance in
				the name of [owner or operator].
12. Guarantor expressly waives notice of
				acceptance of this guarantee by the IDEM commissioner or by [owner or
				operator]. Guarantor also expressly waives notice of amendments or
				modifications of the corrective action, closure, and/or post-closure plan and
				of amendments or modifications of the facility permit(s).
I hereby certify that the wording of this guarantee is
				  identical to the wording specified in 329 IAC 3.1-14-33 as such rule was
				  constituted on the date first above written.
Effective date: ________________________________
[Name of guarantor]
[Authorized signature for guarantor]
[Name of person signing]
[Title of person signing]
Signature of witness or notary:
				  ________________________________