Wisconsin Administrative Code › Department of Natural Resources › NR 100-199 - Environmental Protection General › Chapter NR 182 - Nonferrous Metallic Mineral Mining Waste Management › Section NR 182.117 - Financial responsibility for long-term care

Current through June 24, 2024
(1) METHODS OF
				PROVIDING PROOF OF FINANCIAL RESPONSIBILITY. The owner shall specify, as part
				of the plan of operation submittal, which method of providing proof of
				financial responsibility will be used for long-term care in compliance with ss.
				289.41
				and
				293.51(1g),
				Stats. To provide proof of financial responsibility, the owner may use any of
				the following methods to provide proof of financial responsibility under this
				section:
(a)
Performance or forfeiture
				bond.
1. If the owner chooses to
				submit a bond, it shall be in the amount determined according to sub. (3) (b),
				conditioned upon faithful performance by the owner and any successor in
				interest, of all long-term care requirements of the approved plan of operation.
				The bond for long term care shall be delivered to the department as part of the
				initial operating license application submitted under s. NR 182.111. Bond forms
				shall be supplied by the department.
2. All bonds submitted under this paragraph
				shall be issued by a surety company among those listed as acceptable sureties
				for federal bonds in Circular 570 of the U.S. department of the treasury. At
				the option of the owner a performance bond or a forfeiture bond may be filed.
				The department shall be designated as the obligee of the bond. Surety companies
				may have the opportunity to complete the long-term care of the facility in lieu
				of cash payment to the department if the owner or any successor in interest
				fails to carry out the long-term care requirements of the approved plan of
				operation. The department shall mail notification of its intent to use the
				funds for that purpose to the last known address of the owner. If the owner
				submits a written request for a hearing to the secretary of the department
				within 20 days after the mailing of the notification, the department shall,
				prior to using the funds, hold a hearing for the purpose of determining
				whether, or not, the owner has fulfilled the long-term care requirements of the
				approved plan of operation.
Note:
Copies of Circular 570, "Companies Holding
				  Certificates of Authority as Acceptable Sureties on Federal Bonds and as
				  Acceptable Reinsuring Companies" can be obtained from surety bond branch,
				  financial management service, department of the treasury, Washington D.C.
				  20227, phone (202) 874-6850.
3. Each bond shall provide that, as long as
				any obligation of the owner for long-term care remains, the bond may not be
				canceled by the surety unless a replacement bond or other proof of financial
				responsibility under this section is provided to the department by the owner.
				If the surety proposes to cancel a bond, the surety shall provide notice to the
				department and to the owner in writing by registered or certified mail not less
				than 90 days prior to the proposed cancellation date. Not less than 30 days
				prior to the expiration of the 90-day notice period, the owner shall deliver to
				the department a replacement bond or other proof of financial responsibility
				under this section, in the absence of which all disposal operation shall
				immediately cease and the bond shall remain in effect as long as any obligation
				of the owner remains for long-term care. The surety may discharge its
				obligation under the bond at any time by paying the unused portion of the bond
				to the department.
4. If the surety
				company becomes bankrupt or insolvent or if its authorization to do business is
				revoked or suspended, the owner shall, within 30 days after receiving written
				notice, deliver to the department a replacement bond or other proof of
				financial responsibility under this section, in the absence of which all
				disposal operations shall immediately cease, and the bond shall remain in
				effect as long as any obligation of the owner remains for long-term
				care.