|(a) Within ten days after commencement of a voluntary or involuntary
proceeding under Title 11 (Bankruptcy), United States Code, naming an owner
or operator as debtor, the owner or operator must notify the executive director
by certified mail of this commencement and submit the appropriate forms listed
in §37.875 of this title (relating to Financial Assurance Recordkeeping)
documenting current financial responsibility.
(b) Within ten days after commencement of a voluntary or involuntary
proceeding under Title 11 (Bankruptcy), United States Code, naming a guarantor
providing financial assurance as debtor, this guarantor must notify the owner
or operator by certified mail of this commencement as required under §37.830
of this title (relating to Guarantee).
(c) An owner or operator who obtains financial assurance by
a mechanism other than the financial test of self-insurance will be deemed
to be without the required financial assurance in the event of a bankruptcy
or incapacity of its provider of financial assurance, or a suspension or revocation
of the authority of the provider of financial assurance to issue a guarantee,
insurance policy, risk retention group coverage policy, surety bond, letter
of credit, or state-required mechanism. The owner or operator must obtain
alternate financial assurance as specified in this subchapter within 30 days
after receiving notice of this event. If the owner or operator does not obtain
alternate coverage within 30 days after this notification, he or she must
notify the executive director as specified in this subchapter.