(a) An applicant or licensee required to demonstrate financial
assurance for control and maintenance of a site shall maintain financial assurance
for control and maintenance upon license issuance and during the decommissioning
period. The applicant or licensee shall provide sufficient financial assurance
to enable an independent third party, including a governmental custodian of
a site, to assume and carry out responsibilities for any necessary control
and maintenance of the site. The financial assurance mechanism(s) for control
and maintenance shall comply with Chapter 37 of this title (relating to Financial
Assurance) including increasing annually the financial assurance amount for
inflation or whenever modifications to the control and maintenance activities
or changes to the amount being demonstrated causes the amounts for control
and maintenance to increase.
(b) Prior to license termination, the licensee shall deposit
a sum of cash acceptable to the executive director into the Texas Treasury
Safekeeping Control and Maintenance account to assume and carry out responsibilities
for any necessary surveillance, monitoring, control, maintenance, and other
care of the decommissioned disposal site on a continual basis during the institutional
control period. Upon receipt of the deposit, the executive director shall
release the existing financial assurance mechanism(s) for control and maintenance.
If a deposit is not made into the Control and Maintenance account, the executive
director shall draw on the existing financial assurance mechanism(s) and deposit
the cash into the Texas Safekeeping Treasury Control and Maintenance account.
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