| (a) An owner or operator shall establish liability coverage
for bodily injury and property damage to third parties caused by sudden or
nonsudden accidental occurrences arising from operations of the facility or
group of facilities. The owner or operator shall have and maintain liability
coverage for sudden or nonsudden accidental occurrences, exclusive of legal
defense costs. The owner or operator shall choose from one or more mechanisms
as specified in Subchapter F of this chapter (relating to Financial Assurance
Mechanisms for Liability) to meet the liability requirements for sudden or
nonsudden accidental occurrences.
(b) An owner or operator shall notify the executive director
in writing within 30 days whenever:
(1) a claim results in a reduction in the amount of financial
assurance for liability coverage provided by a financial assurance mechanism
authorized in Subchapter F of this chapter; or
(2) a Certification of Valid Claim for bodily injury or
property damage caused by a sudden or nonsudden accidental occurrence arising
from the operation of a facility is entered between the owner or operator
and third-party claimant for liability coverage under Subchapter F of this
chapter; or
(3) a final court order establishing a judgment for bodily
injury or property damage caused by a sudden or nonsudden accidental occurrence
arising from the operation of a facility is issued against the owner or operator,
or a financial assurance mechanism that is providing financial assurance for
liability coverage under Subchapter F of this chapter.
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