Current through Register Vol. 48, No. 51, June 17, 2024
Part 7035.2715 - TRUST FUND FOR UNRELATED SITES Items A to E apply to trust funds which receive payments from more than one owner or operator for financial assurance at different sites. Such trust funds shall operate like the trust funds specified in part 7035.2705, except that:
A. The trustee shall maintain a separate account for each site and shall evaluate each account annually as of the day of creation of the trust.B. The trustee shall annually notify each owner or operator and the commissioner of the evaluation of each owner's or operator's account.C. The trustee shall release excess funds as required from the account for each site.D. The trustee shall reimburse the owner or operator or other person authorized to perform closure, postclosure care or corrective action 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, postclosure care, or corrective action will be greater than the value of the account.Statutory Authority: MS s 115.03; 116.07