| (a) An owner or operator subject to this subchapter shall establish
financial assurance for closure or post closure of the facility that meets
the requirements of this section, in addition to the requirements specified
under Subchapters A, B, C, and D of this chapter (relating to General Financial
Assurance Requirements; Financial Assurance Requirements for Closure, Post
Closure, and Corrective Action; Financial Assurance Mechanisms for Closure,
Post Closure, and Corrective Action; and Wording of the Mechanisms for Closure,
Post Closure, and Corrective Action.)
(1) An owner or operator subject to this subchapter may use
any of the mechanisms as specified in §37.9020 of this title (relating
to Financial Assurance Mechanisms) to demonstrate financial assurance for
closure or post closure. On a case-by-case basis, the executive director may
approve other alternative financial assurance mechanisms.
(2) The executive director will respond within 60 days
after receiving a written request for a financial assurance reduction in accordance
with §37.151 of this title (relating to Decrease in Current Cost Estimate).
(3) An owner or operator may use multiple financial assurance
mechanisms provided in §37.41 of this title (relating to Use of Multiple
Financial Assurance Mechanisms), but must use only those financial assurance
mechanisms specified in §37.9020 of this title.
(4) Insurance, a surety bond for guaranteeing payment,
or a surety bond guaranteeing performance for closure or post closure, must
provide that the full face amount be paid to the beneficiary automatically
prior to the expiration without proof of forfeiture if the owner or operator
fails to provide a replacement acceptable to the executive director within
30 days after receipt of notification of cancellation.
(b) The owner or operator shall comply with §37.71 of
this title (relating to Incapacity of Owners or Operators, Guarantors, or
Issuing Institutions), except financial assurance must be established within
30 days after such an event.
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