North Dakota Administrative Code › Title 33 - State Department of Health › Article 33-24 - Hazardous Waste Management › Chapter 33-24-02 - Identification and Listing of Hazardous Waste › Section 33-24-02-36 - Financial assurance condition

Current through Supplement No. 393, July, 2024
In accordance with subparagraph f of paragraph 6 of
				  subdivision y of subsection 1 of section
				  33-24-02-04, an owner or operator
				  of a reclamation or intermediate facility shall have financial assurance as a
				  condition of the exclusion as required under subdivision y of subsection 1 of
				  section 33-24-02-04. The owner or operator
				  shall choose from the options as specified in subsections 1 through 5.
1. Trust fund.
a. An owner or operator may satisfy the
				requirements of this section by establishing a trust fund which conforms to the
				requirements of this subsection and submitting an originally signed duplicate
				of the trust agreement to the department. The trustee must be an entity that
				has the authority to act as a trustee and whose trust operations are regulated
				and examined by a federal agency or by the state department of financial
				institutions.
b. The wording of the
				trust agreement must be identical to the wording specified in subdivision a of
				subsection 1 of section 33-24-02-42 and the trust agreement must be accompanied
				by a formal certification of acknowledgment (for example, see subdivision b of
				subsection 1 of section 33-24-02-42). Schedule A of the trust agreement must be
				updated within sixty days after a change in the amount of the current cost
				estimate covered by the agreement.
c. The trust fund must be funded for the full
				amount of the current cost estimate before it may be relied upon to satisfy the
				requirements of this subsection.
d.
				Whenever the current cost estimate changes, the owner or operator shall compare
				the new estimate with the trustee's most recent annual valuation of the trust
				fund. If the value of the fund is less than the amount of the new estimate, the
				owner or operator, within sixty days after the change in the cost estimate,
				either shall deposit an amount into the fund so that its value after this
				deposit at least equals the amount of the current cost estimate, or obtain
				other financial assurance as specified in this section to cover the difference.
e. If the value of the trust fund
				is greater than the total amount of the current cost estimate, the owner or
				operator may submit a written request to the department for release of the
				amount in excess of the current cost estimate.
f. If an owner or operator substitutes other
				financial assurance as specified in this section for all or part of the trust
				fund, the owner or operator may submit a written request to the department for
				release of the amount in excess of the current cost estimate covered by the
				trust fund.
g. Within sixty days
				after receiving a request from the owner or operator for release of funds as
				specified in subdivisions e or f, the department will instruct the trustee to
				release to the owner or operator such funds as the department specifies in
				writing. If the owner or operator begins final closure under sections
				33-24-05-59 through
				33-24-05-69 or subsection 5 of
				section 33-24-06-16, an owner or operator
				may request reimbursements for partial or final closure expenditures by
				submitting itemized bills to the department. The owner or operator may request
				reimbursements for partial closure only if sufficient funds are remaining in
				the trust fund to cover the maximum costs of closing the facility over its
				remaining operating life. No later than sixty days after receiving bills for
				partial or final closure activities, the department will instruct the trustee
				to make reimbursements in those amounts as the department specifies in writing,
				if the department determines that the partial or final closure expenditures are
				in accordance with the approved closure plan, or otherwise justified. If the
				department has reason to believe the maximum cost of closure over the remaining
				life of the facility will be significantly greater than the value of the trust
				fund, the department may withhold reimbursements of such amounts as the
				department deems prudent until the department determines, in accordance with
				subsection 9, that the owner or operator is no longer required to maintain
				financial assurance for final closure of the facility. If the department does
				not instruct the trustee to make such reimbursements, the department will
				provide to the owner or operator a detailed written statement of
				reasons.
h. The department will
				agree to termination of the trust when:
(1)
				An owner or operator substitutes alternate financial assurance as specified in
				this section; or
(2) The department
				releases the owner or operator from the requirements of this section in
				accordance with subsection 9.