Section NR 667.0148 - Incapacity of owners or operators, guarantors or financial institutions(1) An owner or operator shall notify the department by certified mail of the commencement of a voluntary or involuntary proceeding under Title 11 of the United States Code, naming the owner or operator as debtor, within 10 days after commencement of the proceeding. A guarantor of a corporate guarantee as specified in ss. NR 667.0143(7) and 667.0147(7) shall make such a notification if the guarantor is named as debtor, as required under the terms of the corporate guarantee (s. NR 664.0151(8)).(2) An owner or operator who fulfills the requirements of s. NR 667.0143 or 667.0147 by obtaining a trust fund, surety bond, letter of credit or insurance policy shall be deemed to be without the required financial assurance or liability coverage in the event of bankruptcy of the trustee or issuing institution, or a suspension or revocation of the authority of the trustee institution to act as trustee or of the institution issuing the surety bond, letter of credit or insurance policy to issue the instruments. The owner or operator shall establish other financial assurance or liability coverage within 60 days after such an event.Wis. Admin. Code Department of Natural Resources NR 667.0148
Adopted by, CR 16-007: cr. Register July 2017 No. 739, eff.8/1/2017