Section 328IAC1-4-5. Discontinuation of prioritization

   (a) At any time after the administrator has invoked prioritization procedures, the administrator may discontinue the categorization of fund qualifying occurrences and the prioritization of claims if the administrator determines that the unencumbered balance, less the unpaid, approved claims for reimbursable costs and third party liability is greater than twenty-five million dollars ($25,000,000).

  (b) In the event that monies are deposited in or appropriated to the fund in an amount exceeding twenty-five million dollars ($25,000,000) in any calendar month, the administrator shall first apply the monies to restore the balance of the fund to an unencumbered balance, less the unpaid, approved claims for reimbursable costs and third party liability, of twenty-five million dollars ($25,000,000). In that event, the administrator shall discontinue the prioritization procedures. (Underground Storage Tank Financial Assurance Board; 328 IAC 1-4-5; filed Aug 30, 2004, 9:40 a.m.: 28 IR 141; readopted filed Nov 19, 2010, 9:08 a.m.: 20101215-IR-328100553BFA; filed Feb 24, 2011, 2:04 p.m.: 20110323-IR-328080684FRA)