N.M. Admin. Code § 20.5.117.1720
Current through Register Vol. 35, No. 21, November 5, 2024
Section 20.5.117.1720 - REPORTING BY OWNER OR OPERATORA. Owners and operators shall submit the appropriate forms listed in Subsection B of 20.5.117.1721 NMAC documenting current evidence of financial responsibility to the secretary: (1) within 30 days after the owner or operator identifies a release from a storage tank required to be reported under 20.5.102.204 NMAC or 20.5.118 NMAC;(2) if the owner or operator fails to obtain alternate coverage as required by this part, within 30 days after the owner or operator receives notice of: (a) commencement of a voluntary or involuntary proceeding under the Bankruptcy Code, 11 U.S.C., naming a provider of financial assurance as a debtor,(b) suspension or revocation of the authority of a provider of financial assurance to issue a financial assurance mechanism,(c) failure of a guarantor to meet the requirements of the financial test, or(d) other incapacity of a provider of financial assurance, except as provided in Paragraph (3) of this subsection;(3) if the owner or operator fails to obtain alternate coverage as required by this part, within 60 days after the owner or operator receives notice that a state fund or other state assurance has become incapable of paying for assured corrective action or third-party compensation costs; or(4) as required by Subsection G of 20.5.117.1705 NMAC and Subsection B of 20.5.117.1719 NMAC.B. Owners and operators shall certify compliance with the financial responsibility requirements of this part as specified in the new tank registration form when registering a new storage tank under 20.5.102.202 NMAC.C. The secretary may require an owner or operator to submit evidence of financial assurance as described in Subsection B of 20.5.117.1721 NMAC or other information relevant to compliance with this part at any time.N.M. Admin. Code § 20.5.117.1720
Adopted by New Mexico Register, Volume XXIX, Issue 14, July 24, 2018, eff. 7/24/2018