7 Del. Admin. Code § 1352-D-4.0

Current through Register Vol. 28, No. 7, January 1, 2025

Section 1352-D-4.0 - Allowable Mechanisms and Combinations of Mechanisms

4.1 Allowable Financial Responsibility Mechanisms

4.1.1 Except as provided by Part D, subsection 4.1.2 and PART D, subsection 4.1.3:

4.1.1.1 An Owner or Operator may use any one or combination of the mechanisms listed in PART D, Sections 5.0 through 10.0, inclusive, to satisfy the requirements of PART D, Section 3.0.

4.1.1.2 A Local Government Owner or Operator may use any one or combination of the mechanisms listed in PART D, Sections 5.0 through 14.0, inclusive, to satisfy the requirements of PART D, Section 3.0.

4.1.2 An Owner or Operator may use Self-Insurance in combination with a guarantee only if, for the purpose of meeting the requirements of the financial test under this rule, the financial statements of the Owner or Operator are not consolidated with the financial statements of the Guarantor.

4.1.3 If the Owner or Operator uses separate mechanisms or separate combinations of mechanisms to demonstrate financial responsibility for:

4.1.3.1 Taking corrective action; and

4.1.3.2 Compensating third parties for bodily injury and property damage caused by accidental releases; the amount of financial responsibility provided by the combination of mechanisms shall be in the full amount specified in PART D, subsection 3.1.

4.1.4 Where an Owner or Operator uses a combination of separate mechanisms to cumulatively demonstrate financial responsibility, the mechanisms shall clearly and expressly state the order and priority of the mechanisms in paying for corrective action and/or compensation of third parties, and such order and priority shall be consistent with all regulatory requirements for demonstrating financial responsibility.

7 Del. Admin. Code § 1352-D-4.0

20 DE Reg. 815 (4/1/2017) (Final)