Section 328IAC1-7-2. Termination of financial assurance

   After consultation with the financial assurance board, the administrator may determine that the fund does not provide owners or operators evidence of financial assurance. The administrator shall notify all fund participants by certified mail. The fund coverage will continue for sixty (60) days after notice of insufficient funds to provide for financial assurance. Owners or operators shall have thirty (30) days after receipt of the notice of insufficient funds to acquire financial assurance as required under 329 IAC 9-8. Owners and operators shall provide proof of financial responsibility to the department. Invocation of prioritization under 328 IAC 1-4 does not constitute termination of financial assurance under this section. (Underground Storage Tank Financial Assurance Board; 328 IAC 1-7-2; filed Dec 4, 1992, 11:00 a.m.: 16 IR 1057; readopted filed Jan 10, 2001, 3:21 p.m.: 24 IR 1534; filed Oct 17, 2001, 4:30 p.m.: 25 IR 803; filed Aug 30, 2004, 9:40 a.m.: 28 IR 144; readopted filed May 14, 2007, 1:52 p.m.: 20070523-IR-328070137BFA; readopted filed Jul 29, 2013, 9:18 a.m.: 20130828-IR-328130177BFA)