(a) Owners and/or operators must maintain evidence of all financial assurance mechanisms used to demonstrate financial responsibility under this chapter for an underground storage tank until released from the requirements under Section 14. An owner and/or operator must maintain such evidence at the underground storage tank site or the owner's or operator's place of business. Records maintained off-site must be made available upon request of the department.
(b) An owner and/or operator must maintain the following types of evidence of financial responsibility: - (i) An owner and/or operator using an assurance mechanism specified in 40 CFR 280.95 through 280.99 or 280.102 or 280.104 through 280.107, must maintain a copy of the instrument worded as specified.
- (ii) An owner and/or operator using a financial test or guarantee must maintain a copy of the chief financial officer's letter based on year-end financial statements for the most recent completed financial reporting year. Such evidence must be on file no later than 120 days after the close of the financial reporting year.
- (iii) A local government owner or operator using the local government bond rating test must maintain a copy of its bond rating published within the last 12 months by Moody's or Standard & Poor's.
- (iv) A local government owner or operator using the local government guarantee where the guarantor's demonstration of financial responsibility relies on the bond rating test must maintain a copy of the guarantor's bond rating published within the last 12 months by Moody's or Standard & Poor's.
- (v) An owner and/or operator using an insurance policy or risk retention group coverage must maintain a copy of the signed insurance policy or risk retention group coverage policy, with the endorsement or certificate of insurance and any amendments to the agreements.
- (vi) An owner or operator using a local government fund must maintain the following documents:
- (A) A copy of the state constitutional provision or local government statute, charter, ordinance, or order dedicating the fund, and
- (B) Year-end financial statements for the most recent completed financial reporting year showing the amount in the fund. If the fund is established using incremental funding backed by bonding authority, the financial statements must show the previous year's balance, the amount of funding during the year, and the closing balance in the fund.
- (C) If the fund is established using incremental funding backed by bonding authority, the owner or operator must also maintain documentation of the required bonding authority, including either the results of a voter referendum or attestation by the State Attorney General.
- (vii) A local government owner or operator using the local government guarantee supported by the local government fund must maintain a copy of the guarantor's year-end financial statements for the most recent completed financial reporting year showing the amount of the fund.
- (viii) An owner and/or operator using an assurance mechanism specified in 40 CFR 280.95 through 280.107, must maintain an updated copy of a certification of financial responsibility worded as follows, except that instructions are to be replaced with the relevant information;
Certification of Financial Responsibility
[Owner and/or operator] hereby certifies that it is in compliance with the requirements of Chapter XIX of the Water Quality Division Rules and Regulations.
The financial assurance mechanism(s) used to demonstrate financial responsibility under this chapter is (are) as follows:
[For each mechanism, list the type of mechanism, name of issuer, mechanism number (if applicable), amount of coverage, effective period of coverage and whether the mechanism covers "taking corrective action" and/or "compensating third parties for bodily injury and property damage caused by" either "sudden accidental releases" or "non sudden accidental releases" or "accidental releases."]
[Signature of owner and/or operator,] [name of owner and/or operator,] [title,] [date,] [signature of witness or notary,] [name of witness or notary,] [date].
- (ix) The owner and/or operator must update this certification whenever the financial assurance mechanism(s) used to demonstrate financial responsibility change(s).
020-19 Wyo. Code R. § 19-12