Ala. Admin. Code r. 335-4-8-.07

Current through Register Vol. 43, No. 3, December 31, 2024

Section 335-4-8-.07 - Release Of Financial Institution

ADEM shall release a trustee, bank, surety or other financial institution when either of the following occur:

(a) An owner or operator substitutes alternative financial assurance so that the total financial assurance for the facility is equal to or greater than the current cost estimate for closure and remediation, without counting the amounts to be released.

(b) ADEM releases the owner or operator from the requirements of 335-4-8-.02 and .03 following completion of closure or remediation.

Ala. Admin. Code r. 335-4-8-.07

New Rule: Filed June 30, 2004; effective August 4, 2004.

Amended by Alabama Administrative Monthly Volume XLII, Issue No. 09, June 28, 2024, eff. 8/12/2024.

Author: James L. Bryant

Statutory Authority:Code of Alabama 1975, §§ 22-40A-1et seq.