Ill. Admin. Code tit. 41 § 176.215

Current through Register Vol. 49, No. 2, January 10, 2025

Section 176.215 - Mechanisms of Financial Responsibility

Under Section 6.1 of the Gasoline Storage Act, only the following may be considered acceptable mechanisms for financial responsibility:

a) Commercial or private insurance, including risk retention groups;

b) Self-insurance, if there is a tangible net worth of at least $200,000;

c) Guarantee;

d) Surety bond;

e) Letter of credit;

f) Certificate of deposit;

g) Designated savings account; or

h) Any combination of the mechanisms listed in this Section.

Ill. Admin. Code tit. 41, § 176.215

Amended at 42 Ill. Reg. 10621, effective 10/13/2018