Ill. Admin. Code tit. 35 § 807.643

Current through Register Vol. 48, No. 25, June 21, 2024

Section 807.643 - Trust Fund for Unrelated Sites

Any person may establish a trust fund for the benefit of the Agency which may receive funds from more than one operator for closure of different sites. Such a trust fund shall operate like the trust fund specified in Section 807.661, except as follows:

a) The trustee shall maintain a separate account for each site and shall evaluate such annually as of the day of creation of the trust;

b) The trustee shall annually notify each operator and the Agency of the evaluation of each operator's account;

c) The trustee shall release excess funds as required from the account for each site;

d) The trustee shall reimburse the operator or other person authorized to perform closure or post-closure care only from the account for that site.

e) The Agency may direct the trustee to withhold payments only from the account for the site for which it has reason to believe the cost of closure and post-closure care will be significantly greater than the value of the account for that site.

Ill. Admin. Code tit. 35, § 807.643

Amended at 9 Ill. Reg. 18942, effective November 25, 1985