|(a) This subchapter applies to an owner and operator of a petroleum
underground storage tank (UST) system required to provide financial assurance
under Chapter 334 of this title (relating to Underground and Aboveground Storage
Tanks). This subchapter establishes requirements and mechanisms for demonstrating
financial assurance for corrective action and third party liability.
(b) State and federal governmental entities whose debts and
liabilities are the debts and liabilities of a state or the United States
are exempt from the requirements of this subchapter.
(c) If the owner and operator of a petroleum UST are separate
persons, only one person is required to demonstrate financial assurance; however,
both parties are liable in the event of noncompliance.