South Carolina Code of Regulations › Chapter 61 - DEPARTMENT OF HEALTH AND ENVIRONMENTAL CONTROL › Subchapter 61-63 - Radioactive Materials (Title A) › Part VII - LICENSING REQUIREMENTS FOR LAND DISPOSAL OF RADIOACTIVE WASTE › Section 61-63.VII.RHA 7.30 - Funding for Disposal Site Closure and Stabilization

Current through Register Vol. 48, No. 6, June 28, 2024
7.30.1 The
				applicant shall provide assurances prior to the commencement of operations that
				sufficient funds will be available to carry out disposal site closure and
				stabilization, including: (1) decontamination or dismantlement of land disposal
				facility structures; and (2) closure and stabilization of the disposal site so that
				following transfer of the disposal site to the site owner, the need for ongoing
				active maintenance is eliminated to the extent practicable and only minor custodial
				care, surveillance and monitoring are required. These assurances shall be based on
				Department approved cost estimates reflecting the Department plan for disposal site
				closure and stabilization. The applicant's cost estimates must take into account
				total costs that would be incurred if an independent contractor were hired to
				perform the closure and stabilization work.
7.30.2 In order to avoid unnecessary duplication
				and expense, the Department will accept financial sureties that have been
				consolidated with earmarked financial or surety arrangements established to meet
				requirements of federal or other state agencies (and/or local government bodies) for
				such decontamination, closure, and stabilization. The Department will accept these
				arrangements only if they are considered adequate to satisfy the requirements of
				7.30 and that the portion of the surety which covers the closure of the disposal
				site is clearly identified and committed for use in accomplishing these
				activities.
7.30.3 The licensee's
				financial or surety arrangement shall be submitted annually for review by the
				Department to assure that sufficient funds will be available for completion of the
				closure plan.
7.30.4 The amount of the
				licensee's financial or surety arrangement shall change in accordance with changes
				in the predicted costs of closure and stabilization. Factors affecting closure and
				stabilization cost estimates include inflation, increases in the amount of disturbed
				land, changes in engineering plans, closure and stabilization that has already been
				accomplished, and any other conditions affecting costs. The financial or surety
				arrangement shall be sufficient at all times to cover the costs of closure and
				stabilization of the disposal units that are expected to be used before the next
				license renewal.
7.30.5 The financial or
				surety arrangement shall be written for a specified period of time and shall be
				automatically renewed unless the person who issues the surety notifies the
				Department, the beneficiary (the site owner), and the principal (the licensee) not
				less than 90 days prior to the renewal date of its intention not to renew. In such a
				situation, the licensee must submit a replacement surety within 30 days after
				notification of cancellation. If the licensee fails to provide a replacement surety
				acceptable to the Department, the beneficiary may collect on the original
				surety.
7.30.6 Proof of forfeiture shall
				not be necessary to collect the surety so that, in the event that the licensee could
				not provide an acceptable replacement surety within the required time, the surety
				shall be automatically collected prior to its expiration. The conditions described
				above shall be clearly stated on any surety instrument.
7.30.7 Financial or surety arrangements generally
				acceptable to the Department include surety bonds, cash deposits, certificates of
				deposit, deposits of government securities, escrow accounts, irrevocable letters or
				lines of credit, trust funds, and combinations of the above or such other types of
				arrangements as may be approved by the Department. Self-insurance, or any
				arrangement which essentially constitutes self-insurance, will not satisfy the
				surety requirement for private sector applicants.
7.30.8 The licensee's financial or surety
				arrangement shall remain in effect until the closure and stabilization program has
				been completed and approved by the Department, and the license has been transferred
				to the site owner.