Wyoming Administrative Code › Agency 020 - Environmental Quality, Dept. of › Sub-Agency 0011 - Water Quality › Chapter 19 - FINANCIAL ASSURANCE FOR UNDERGROUND STORAGE TANKS › Section 19-12 - Recordkeeping

Current through July 13, 2024
(a) Owners and/or operators must maintain
				evidence of all financial assurance mechanisms used to demonstrate financial
				responsibility under this chapter for an underground storage tank until
				released from the requirements under Section
				14. An owner and/or operator must maintain
				such evidence at the underground storage tank site or the owner's or operator's
				place of business. Records maintained off-site must be made available upon
				request of the department.
(b) An
				owner and/or operator must maintain the following types of evidence of
				financial responsibility:
(i) An owner and/or
				operator using an assurance mechanism specified in
				40 CFR
				280.95 through 280.99 or 280.102 or 280.104
				through 280.107, must maintain a copy of the instrument worded as
				specified.
(ii) An owner and/or
				operator using a financial test or guarantee must maintain a copy of the chief
				financial officer's letter based on year-end financial statements for the most
				recent completed financial reporting year. Such evidence must be on file no
				later than 120 days after the close of the financial reporting year.
(iii) A local government owner or operator
				using the local government bond rating test must maintain a copy of its bond
				rating published within the last 12 months by Moody's or Standard &
				Poor's.
(iv) A local government
				owner or operator using the local government guarantee where the guarantor's
				demonstration of financial responsibility relies on the bond rating test must
				maintain a copy of the guarantor's bond rating published within the last 12
				months by Moody's or Standard & Poor's.
(v) An owner and/or operator using an
				insurance policy or risk retention group coverage must 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.
(vi) An owner or
				operator using a local government fund must maintain the following documents:
(A) A copy of the state constitutional
				provision or local government statute, charter, ordinance, or order dedicating
				the fund, and
(B) Year-end
				financial statements for the most recent completed financial reporting year
				showing the amount in the fund. If the fund is established 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.
(C) If the
				fund is established using incremental funding backed by bonding authority, the
				owner or operator must also maintain documentation of the required bonding
				authority, including either the results of a voter referendum or attestation by
				the State Attorney General.
(vii) A local government owner or operator
				using the local government guarantee supported by the local government fund
				must 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.
(viii) An owner and/or
				operator using an assurance mechanism specified in
				40 CFR
				280.95 through 280.107, must maintain an
				updated copy of a certification of financial responsibility worded as follows,
				except that instructions are to be replaced with the relevant information;
Certification of Financial Responsibility
[Owner and/or operator] hereby certifies that it is in
				  compliance with the requirements of Chapter XIX of the Water Quality Division
				  Rules and Regulations.
The financial assurance mechanism(s) used to demonstrate
				  financial responsibility under this chapter 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 and/or operator,] [name of owner and/or
				  operator,] [title,] [date,] [signature of witness or notary,] [name of witness
				  or notary,] [date].
(ix) The
				owner and/or operator must update this certification whenever the financial
				assurance mechanism(s) used to demonstrate financial responsibility
				change(s).