Statutes, codes, and regulations
California Code Of Regulations
Title 14 - Natural ResourcesDivision 7 - Department of Resources Recycling and RecoveryChapter 6 - Permitting of Waste Tire Facilities and Waste Tire Hauler Registration and Tire Manifests
Article 9 - Financial Assurance Requirements for Closure of a Major Waste Tire Facility
Section 18481 - Recordkeeping and Reporting Requirements

Cal. Code Regs. tit. 14 § 18481

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Current through Register 2024 Notice Reg. No. 25, June 21, 2024
Section 18481 - Recordkeeping and Reporting Requirements
(a) An operator shall maintain evidence of all financial assurance mechanisms until the operator is released from the requirements of this Article, as specified in section 18482. This evidence shall be maintained at each major waste tire facility, whenever possible, or at an alternate, designated location approved by the Board or its designee and which is accessible to the operator, and available for the Board or its designee to review.
(b) An operator shall maintain the following types of evidence of financial assurance:
(1) Trust Fund. An operator using a trust fund shall maintain a copy of the trust agreement and statements verifying the current balance of the fund.
(2) Surety Bond. An operator using a surety bond shall maintain a copy of the bond and any amendments to the bond.
(3) Letter of Credit. An operator using a letter of credit shall maintain a copy of the letter of credit and any amendments to the letter of credit.
(4) Government Securities. An operator using government securities shall maintain a copy of the following:
(A) All official resolutions, forms, letters or other pertinent documents generated to issue the securities;
(B) The terms of issuance of the securities; and
(C) With respect to the financial assurance mechanism into which proceeds from the issuance are deposited, the information listed in subsection (5)(C)1., 2., and 3. of this section.
(5) Enterprise Fund. An operator using a enterprise fund shall maintain a copy of the following:
(A) All official resolutions, forms, letters, or other pertinent documents generated to establish the fund;
(B) The annual financial statements of the fund; and
(C) With respect to the financial assurance mechanism into which enterprise fund revenue is deposited:
1. The mechanism, which shall identify the major waste tire facility(ies) and the current closure cost estimates covered by the mechanism;
2. A letter from an authorized officer of the institution maintaining the mechanism, identifying the amount of coverage provided by the mechanism as of the date of its establishment and each anniversary date of establishment; and
3. Documentation that the mechanism meets the requirements of section 18478(d) of this Article.
(c) An operator shall submit current evidence of financial responsibility, as described in subsection (b) of this section, to the Board or its designee:
(1) Whenever a financial assurance mechanism is established or amended.
(A) In the case of a trust fund, letter of credit or surety bond, such documentation shall include the original mechanisms or amendments;
(B) In the case of government securities such documentation shall include the information as specified in subsection (b)(4)(C) of this section.
(C) In the case of the enterprise fund such documentation shall include the information as specified in subsection (b)(5)(C) of this section.
(2) When a closure plan is required to be submitted as required in Article 6, or when the amendment of a cost estimate is required to be submitted as required in Articles 6 or 9; or
(3) If an operator fails to increase the balance of a trust fund or an enterprise fund in accordance with section 18474(c) of this Article.

Cal. Code Regs. Tit. 14, § 18481

1. New section filed 2-10-92 as an emergency; operative 2-10-92 (Register 92, No. 21). A Certificate of Compliance must be transmitted to OAL 6-9-92 or emergency language will be repealed by operation of law on the following day.
2. New section refiled 5-29-92 as an emergency; operative 6-8-92 (Register 92, No. 25). A Certificate of Compliance must be transmitted to OAL by 10-6-92 or emergency language will be repealed by operation of law on the following day.
3. New section refiled 9-28-92 as an emergency; operative 10-6-92 (Register 92, No. 40). A Certificate of Compliance must be transmitted to OAL by 2-3-92 or emergency language will be repealed by operation of law on the following day.
4. New section refiled 1-25-93 as an emergency; operative 2-2-93 (Register 93, No. 5). A Certificate of Compliance must be transmitted to OAL 6-2-93 or emergency language will be repealed by operation of law on the following day.
5. Certificate of Compliance as to 1-25-93 order transmitted to OAL 5-26-93; disapproved by OAL on 6-22-93 (Register 93, No. 26).
6. New section filed 6-22-93 as an emergency; operative 6-22-93 (Register 93, No. 26). A Certificate of Compliance must be transmitted to OAL 10-20-93 or emergency language will be repealed by operation of law on the following day.
7. Editorial correction of HISTORY 4 (Register 93, No. 26).
8. Certificate of Compliance as to 6-22-93 emergency order including amendment of subsections (b)(5)(C)2. and (c)(2) transmitted to OAL 9-23-93 and filed 11-3-93 (Register 93, No. 45).

Note: Authority cited: Sections 40502 and 42820, Public Resources Code. Reference: Section 42821, Public Resources Code.

1. New section filed 2-10-92 as an emergency; operative 2-10-92 (Register 92, No. 21). A Certificate of Compliance must be transmitted to OAL 6-9-92 or emergency language will be repealed by operation of law on the following day.
2. New section refiled 5-29-92 as an emergency; operative 6-8-92 (Register 92, No. 25). A Certificate of Compliance must be transmitted to OAL by 10-6-92 or emergency language will be repealed by operation of law on the following day.
3. New section refiled 9-28-92 as an emergency; operative 10-6-92 (Register 92, No. 40). A Certificate of Compliance must be transmitted to OAL by 2-3-92 or emergency language will be repealed by operation of law on the following day.
4. New section refiled 1-25-93 as an emergency; operative 2-2-93 (Register 93, No. 5). A Certificate of Compliance must be transmitted to OAL 6-2-93 or emergency language will be repealed by operation of law on the following day.
5. Certificate of Compliance as to 1-25-93 order transmitted to OAL 5-26-93; disapproved by OAL on 6-22-93 (Register 93, No. 26).
6. New section filed 6-22-93 as an emergency; operative 6-22-93 (Register 93, No. 26). A Certificate of Compliance must be transmitted to OAL 10-20-93 or emergency language will be repealed by operation of law on the following day.
7. Editorial correction of History 4 (Register 93, No. 26).
8. Certificate of Compliance as to 6-22-93 emergency order including amendment of subsections (b)(5)(C)2. and (c)(2) transmitted to OAL 9-23-93 and filed 11-3-93 (Register 93, No. 45).