S.C. Code Regs. § 61-33.A.5

Current through Register Vol. 48, No. 5, May 24, 2024

Section 61-33.A.5 - Due Diligence

(A) The Responsible Applicant shall exercise due diligence to identify any and all former Drycleaning Facilities for which the Responsible Applicant was the owner, operator, Person or otherwise potentially financially liable. This identification shall extend backwards in time until either the existence of a Former Drycleaning Facility is discovered or the history of the property reasonably indicates that it could not have been used as a Former Drycleaning Facility. This due diligence shall include the following:

(1) A review of all property currently or previously owned by the applicant to determine if a Former Drycleaning Facility operated on the property prior to, or concurrent with, the Responsible Applicant ownership of the property.

(2) A review of any property previously owned by any Responsible Applicant's acquired subsidiary business to determine if a Drycleaning Facility operated on the property at any time prior to, or concurrent with, the Responsible Applicant's ownership interest of the property; and,

(3) A review of any business location currently or formerly operated by the Responsible Applicant or the Responsible Applicant's acquired subsidiary business on leased property to determine if a Former Drycleaning Facility was at any time operated by the Responsible Applicant or his acquired subsidiary business.

(B) A narrative summary including supporting documentation of all property location reviews shall be submitted with the first eligibility application.

(C) The Responsible Applicant shall have a continuing obligation to disclose the location of Former Drycleaning Facilities for which the applicant is liable. The Responsible Applicant shall submit application packages in compliance with the Act and include an addendum to the narrative summary described in subsection 33.5(B):

(1) Within ninety days of the Responsible Applicant discovering a Former Drycleaning Facility not previously identified in the narrative summary. This addendum shall include information on the newly-identified Former Drycleaning Facility and a detailed explanation of why the site was not discovered using due diligence. If the Department subsequently determines that the Former Drycleaning Facility should have been discovered using a reasonable application of due diligence, the Former Drycleaning Facility shall not be eligible for the Fund or the moratorium.

(2) Within one hundred and eighty days after the Responsible Applicant acquires new commercial property either through direct acquisition or through a new ownership interest in an acquired subsidiary business that included a Former Drycleaning Facility. Any properties not identified within one hundred and eighty days will not be eligible for the Fund.

(D) Any costs incurred by the Responsible Applicant to identify Former Drycleaning Facilities shall not be credited toward the Responsible Applicant deductible nor be eligible for reimbursement from the Fund.

S.C. Code Regs. 61-33.A.5

Replaced and amended by State Register Volume 41, Issue No. 05, eff. 5/26/2017.