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 26-3.107 - Record Keeping

Current through Register Vol. 49, No. 14, July 15, 2024
PURPOSE: This rule describes the records that owners
				  and operators must maintain for their financial responsibility
				  instruments.
(1) Owners or
				operators shall maintain evidence of all financial assurance mechanisms used to
				demonstrate financial responsibility under
				10 CSR 26-3.090
				through
				10 CSR
				26-3.115 for an underground storage tank (UST) until
				released from the requirements of
				10 CSR 26-3.090
				through
				10 CSR
				26-3.115 under
				10 CSR
				26-3.109. An owner or operator shall maintain this
				evidence at the UST site or the owner's or operator's place of business.
				Records maintained off-site shall be made available upon request of the
				department.
(2) An owner or
				operator shall maintain the following types of evidence of financial
				responsibility:
(A) An owner or operator
				using an assurance mechanism specified in
				10 CSR
				26-3.095 through 10 CSR 26-3.100 or
				10 CSR 26-3.102 or
				10 CSR
				26-3.112 through
				10 CSR
				26-3.115 shall maintain a copy of the instrument
				worded as specified;
(B) An owner
				or operator using a financial test or guarantee shall maintain a copy of the
				chief financial officer's letter based on year-end financial statements for the
				most recent completed financial reporting year. This evidence shall be on file
				no later than one hundred twenty (120) days after the close of the financial
				reporting year;
(C) An owner or
				operator using a guarantee, surety bond, or letter of credit shall maintain a
				copy of the signed standby trust fund agreement and copies of any amendments to
				the agreement;
(D) A local
				government owner or operator using a local government guarantee under
				10 CSR
				26-3.114(4) shall maintain a copy of
				the signed standby trust fund agreement and copies of any amendments to the
				agreement;
(E) A local government
				owner or operator using the local government bond rating test under
				10 CSR
				26-3.112 shall maintain a copy of its bond rating
				published within the last twelve (12) months by Moody's or Standard &
				Poor's;
(F) A local government
				owner or operator using the local government guarantee under
				10 CSR
				26-3.114, where the guarantor's demonstration of
				financial responsibility relies on the bond rating test under
				10 CSR
				26-3.112, shall maintain a copy of the guarantor's
				bond rating published within the last twelve (12) months by Moody's or Standard
				& Poor's;
(G) An owner or
				operator using an insurance policy or risk retention group coverage shall
				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;
(H) An owner or
				operator covered by the Petroleum Storage Tank Insurance Fund must maintain on
				file a copy of any evidence of coverage supplied by or required by the
				department under
				10 CSR
				26-3.101(1);
(I) An owner or operator using a local
				government fund under
				10 CSR
				26-3.115 shall maintain the following documents:
1. A copy of the state constitutional
				provision or local government's statute, charter, ordinance, or order
				dedicating the fund;
2. Year-end
				financial statements for the most recent completed financial reporting year
				showing the amount in the fund. If the fund is established under
				10 CSR
				26-3.115(1)(C) using incremental
				funding backed by bonding authority, the financial statements must show the
				previous year's balance, the amount of funding during the year, and the closing
				balance in the fund; and
3. If the
				fund is established under
				10 CSR
				26-3.115(1)(C) using incremental
				funding backed by bonding authority, the owner or operator shall also maintain
				documentation of the required bonding authority, including either the results
				of a voter referendum (under
				10 CSR
				26-3.115(1)(C) 1.) or attestation by
				the state attorney general as specified under
				10 CSR
				26-3.115(1)(C) 2.;
(J) A local government owner or
				operator using the local government guarantee supported by the local government
				fund shall maintain a copy of the guarantor's year-end financial statements for
				the most recent completed financial reporting year showing the amount of the
				fund; and
(K) An owner or operator
				using an assurance mechanism specified in
				10 CSR
				26-3.095 through
				10 CSR 26-3.102 or
				10 CSR
				26-3.112 through
				10 CSR
				26-3.115 shall maintain an updated copy of a
				certification of financial responsibility worded as specified in Form 9,
				included herein. The owner or operator shall update this certification whenever
				the financial assurance mechanism(s) used to demonstrate financial
				responsibility change(s).
Form 9-Certification of Financial
				  Responsibility
The following text should be used to comply with the
				  requirements of
				  10 CSR
				  26-3.107(2)(K) as follows, except
				  that the instructions in brackets are to be replaced by 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
				  10 CSR
				  26-3.090-10 CSR
				  26-3.115. The financial assurance mechanism(s) used to
				  demonstrate financial responsibility under
				  10 CSR
				  26-3.090-10 CSR
				  26-3.115 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 "non-sudden accidental releases" or
				  "accidental releases."
]
[
Signature of owner or operator
]
[
Name of owner or operator
]