Section 173-360-410. Allowable mechanisms and combinations of mechanisms.

(1) Subject to the limitations of subsections (2) and (3) of this section, an owner or operator may use any one or combination of the mechanisms listed in WAC 173-360-413 through 173-360-436 to demonstrate financial responsibility under WAC 173-360-400 through 173-360-499 for one or more underground storage tanks.

(2) An owner or operator may use a guarantee or surety bond to establish financial responsibility under WAC 173-360-400 through 173-360-499.

(3) An owner or operator may use self-insurance in combination with a guarantee only if, for the purpose of meeting the requirements of the financial test under this rule, the financial statements of the owner or operator are not consolidated with the financial statements of the guarantor.

(4) Except as provided in subsection (5) of this section, if the owner or operator uses separate mechanisms or separate combinations of mechanisms to demonstrate financial responsibility for:

(a) Taking corrective action;

(b) Compensating third parties for bodily injury and property damage caused by sudden accidental releases; or

(c) Compensating third parties for bodily injury and property damage caused by nonsudden accidental releases, the amount of assurance provided by each mechanism or combination of mechanisms shall be in the full amount specified in WAC 173-360-406 (1) and (2).

(5) If an owner or operator uses separate mechanisms or separate combinations of mechanisms to demonstrate financial responsibility for different petroleum underground storage tanks, the annual aggregate required shall be based on the number of tanks covered by each such separate mechanism or combination of mechanisms.

[Statutory Authority: Chapter 90.76 RCW. WSR 90-24-017, § 173-360-410, filed 11/28/90, effective 12/29/90.]

Chapter 90.76 RCW. WSR 90-24-017, § 173-360-410, filed 11/28/90, effective 12/29/90.

Rules

173-360-413,173-360-436,173-360-400,173-360-499,173-360-400,173-360-499,173-360-406,