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 14-34 - Wording of instrument; guarantee for liability coverage

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; IC 13-11-2-71
Sec. 34.
(a) The
				guarantee, as specified in section 24(g) of this rule or
				329 IAC 3.1-15-8(f)
				 (see
				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 Liability Coverage
Guarantee made this [date] by [name of guaranteeing entity],
				  a business corporation organized under the laws of [if incorporated within the
				  United States, insert, "the State of____________" and insert the name of the
				  state, or, if incorporated outside the United States, insert the name of the
				  country in which incorporated, the principal place of business within the
				  United States, and the name and address of the registered agent in the state of
				  the principal place of business], herein referred to as guarantor. This
				  guarantee is made on behalf of [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
				  any and all third parties who have sustained or may sustain bodily injury or
				  property damage caused by [sudden and/or nonsudden] accidental occurrences
				  arising from operation of the facility(ies) covered by this guarantee.
Recitals
1. Guarantor
				meets or exceeds the financial test criteria and agrees to comply with the
				reporting requirements for guarantors as specified in
				329 IAC 3.1-15-8(f)
				 and
				329 IAC
				3.1-14-24(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, and
				if guarantor is incorporated outside the United States, list the name and
				address of the guarantor's registered agent in each state.] This guarantee
				satisfies third party liability requirements for hazardous waste under IC
				13-11-2-71 for [insert "sudden" or "nonsudden" or "both sudden and nonsudden"]
				accidental occurrences in above-named owner or operator facilities for coverage
				in the amount [insert dollar amount] for each occurrence and [insert dollar
				amount] annual aggregate.
3. For
				value received from [owner or operator], guarantor guarantees to any and all
				third parties who have sustained or may sustain bodily injury or property
				damage caused by [sudden and/or nonsudden] accidental occurrences arising from
				operations of the facility(ies) covered by this guarantee that in the event
				that [owner or operator] fails to satisfy a judgment or award based on a
				determination of liability for bodily injury or property damage to third
				parties caused by [sudden and/or nonsudden] accidental occurrences, arising
				from the operation of the above-named facilities, or fails to pay an amount
				agreed to in settlement of a claim arising from or alleged to arise from such
				injury or damage, the guarantor will satisfy such judgment(s), award(s), or
				settlement agreement(s), up to the limits of coverage identified
				above.
4. 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 commissioner and to
				[owner or operator] that the guarantor intends to provide alternate liability
				coverage as specified in
				329 IAC
				3.1-15-8 and
				329 IAC
				3.1-14-24, 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 liability coverage unless [owner or
				operator] has done so.
5. The
				guarantor agrees to notify the commissioner by certified mail of a voluntary or
				involuntary bankruptcy proceeding under
				11
				U.S.C. 101 et seq., October 1, 1979, naming
				guarantor as debtor, within ten (10) days after commencement of the
				proceeding.
6. Guarantor agrees
				that within thirty (30) days after being notified by the commissioner of a
				determination that guarantor no longer meets the financial test criteria or
				that the guarantor is disallowed from continuing as a guarantor, the guarantor
				shall establish alternate liability coverage as specified in
				329 IAC
				3.1-15-8 or
				329 IAC
				3.1-14-24, in the name of [owner or operator], unless
				[owner or operator] has done so.
7.
				Guarantor reserves the right to modify this agreement to take into account
				amendment or modification of the liability requirements set by
				329 IAC
				3.1-15-8 and
				329 IAC
				3.1-14-24, provided that such modification shall
				become effective only if the commissioner does not disapprove the modification
				within thirty (30) days of receipt of notification of the
				modification.
8. Guarantor agrees
				to remain bound under this guarantee for so long as [owner or operator] must
				comply with the applicable requirements of
				329 IAC
				3.1-15-8 and
				329 IAC
				3.1-14-24 for the above-listed facility(ies), except
				as provided in paragraph 9 of this agreement.
9. Guarantor may terminate this guarantee by
				sending notice by certified mail to the commissioner and to [owner or
				operator], provided that this guarantee may not be terminated unless and until
				[owner or operator] obtains, and the commissioner approves alternate liability
				coverage complying with
				329 IAC
				3.1-15-8 and/or
				329 IAC
				3.1-14-24.
10. Guarantor hereby expressly waives notice
				of acceptance of this guarantee by any party.
11. Guarantor agrees that this guarantee is
				in addition to and does not affect any other responsibility or liability of the
				guarantor with respect to the covered facilities.
12. Guarantor shall satisfy a third party
				liability claim only on receipt of one (1) of the following documents, either
				(a) or (b):
(a) Certification from the
				principal and the third party claimant or claimants that the liability claim
				must be paid. The certification must be worded as follows except that
				instructions in brackets are to be replaced with the relevant information and
				the brackets deleted:
Certification of Valid Claim
The undersigned, as parties [insert principal] and [insert
				  name and address of third party claimant or claimants], hereby certify that the
				  claim of bodily injury, property damage, or bodily injury and property damage
				  caused by a [sudden or nonsudden] accidental occurrence arising from operating
				  [principal's hazardous waste treatment, storage, or disposal facility] must be
				  paid in the amount of $__________.
[Signature]
Principal
(Notary) Date
[Signature or signatures]
Claimant or claimants
(Notary) Date
(b) A valid final court order establishing a
				judgment against the principal for bodily injury or property damage caused by
				sudden or nonsudden accidental occurrences arising from the operation of the
				principal's facility or group of facilities.
13. In the event of the combination of this
				guarantee with another mechanism to meet liability requirements, this guarantee
				will be considered [insert "primary" or "excess"] coverage.