Current through Register Vol. 54, No. 25, June 22, 2024
Section 245.704 - General requirements(a) An owner or operator of an underground storage tank shall continuously participate in the USTIF by timely paying all applicable fees and conforming with all other requirements for participation in the USTIF, unless the EQB has determined that the underground storage tank is an exempt underground storage tank.(b) An owner or operator of an underground storage tank shall have sufficient financial resources available to continuously meet the USTIF deductibles for both corrective action and third party liability as determined in accordance with § 245.707 (relating to coverage amounts for financial responsibility). The deductible coverage must be in a method required under section 701(b) of the act (35 P. S. § 6021.701(b)) including a guarantee, surety bond, qualification as a self-insurer, insurance or risk retention coverage, letter of credit, indemnity contract, trust fund, stand by trust fund, or other method approved or deemed satisfactory by the Department.(c) The owner or operator shall have written documentation of the USTIF deductible coverage readily available and provide this documentation to the Department upon request to demonstrate that the owner or operator has sufficient financial resources to meet the USTIF deductible for both corrective action and third party liability as determined in accordance with § 245.707.The provisions of this § 245.704 amended November 9, 2007, effective 11/10/2007, 37 Pa.B. 5979; amended December 21, 2018, effective 12/22/2018, 48 Pa.B. 7875.