Section 250-RICR-140-25-1.8 - Financial ResponsibilityA. Applicability 1. This rule shall apply to all owners/operators of regulated substance underground storage tank systems required to register under this Part with the following exceptions: a. USTs used solely for the storage of heating or fuel oils consumed on the facility premises;b. Farm or residential USTs with capacity of 1,100 gallons or less and used solely for the storage of motor fuel which is not for resale; andc. UST facilities owned by the state, federal or municipal government which, consistent with EPA requirements, have been deemed to be inherently capable of meeting financial responsibility requirements.B. Compliance 1. Owners of regulated substance underground storage tanks are required to comply with the requirements of this Part in accordance with 40 C.F.R. § 280.C. Demonstration of Financial Responsibility 1. Unless otherwise exempted from these rules, the owner of any UST system shall demonstrate financial responsibility for taking corrective action and for compensating third parties for bodily injury and property damage caused by accidental releases from an underground storage tank system in accordance with 40 C.F.R. § 280.2. The amount of financial assurance required in § 1.8(C)(1) of this Part shall exclude legal defense costs.3. The amount of financial responsibility required shall not limit liability of the owner/operator for damages caused by a release.D. Rhode Island UST Financial Responsibility Fund1. An owner/operator may satisfy the Financial Responsibility requirement by being eligible for the Rhode Island UST Financial Responsibility Fund, established by the R.I. Gen. Laws Chapter 46-12.9.250 R.I. Code R. 250-RICR-140-25-1.8
Amanded effective 11/20/2018