Section 329IAC9-8-24. Bankruptcy or other incapacity of owner or operator or provider of financial assurance

   (a) Within ten (10) days after commencement of a voluntary or involuntary proceeding under the bankruptcy laws of the United States (11 U.S.C. 101 et seq.) naming an owner or operator as debtor, the owner or operator shall:

(1) notify the commissioner by certified mail of such commencement; and

(2) submit the appropriate forms listed in section 21(b) of this rule documenting current financial responsibility.

  (b) Within ten (10) days after commencement of a voluntary or involuntary proceeding under the bankruptcy laws of the United States (11 U.S.C. 101 et seq.) naming a guarantor providing financial assurance as debtor, such guarantor shall notify the owner or operator by certified mail of such commencement as required under the terms of the guarantee specified in section 7 or 11(c)(7) of this rule.

  (c) Within ten (10) days after commencement of a voluntary or involuntary proceeding under the bankruptcy laws of the United States (11 U.S.C. 101 et seq.) naming a local government owner or operator as debtor, the local government owner or operator shall:

(1) notify the commissioner by certified mail of such commencement; and

(2) submit the appropriate forms listed in section 21(b) of this rule documenting current financial responsibility.

  (d) Within ten (10) days after commencement of a voluntary or involuntary proceeding under the bankruptcy laws of the United States (11 U.S.C. 101 et seq.) naming a guarantor providing a local government financial assurance as debtor, such guarantor shall notify the local government owner or operator by certified mail of such commencement as required under the terms of the guarantee specified in section 16 of this rule.

  (e) An owner or operator who obtains financial assurance by a mechanism other than the financial test of self-insurance shall be deemed to be without the required financial assurance in the event of a:

(1) bankruptcy or incapacity of its provider of financial assurance; or

(2) suspension or revocation of the authority of the provider of financial assurance to issue a:

(A) guarantee;

(B) insurance policy;

(C) risk retention group coverage policy;

(D) surety bond;

(E) letter of credit; or

(F) certificate of deposit.

The owner or operator shall obtain alternate financial assurance as specified in this rule within thirty (30) days after receiving notice of such an event. If the owner or operator does not obtain alternate coverage within thirty (30) days after such notification, the owner shall notify the commissioner.

  (f) Within thirty (30) days after receipt of notification that the excess liability trust fund under section 11 of this rule has become incapable of paying for assured corrective action or third party compensation costs, the owner or operator shall obtain alternate financial assurance. (Solid Waste Management Division; 329 IAC 9-8-24; filed Jul 19, 1999, 12:00 p.m.: 22 IR 3760; readopted filed Jan 10, 2001, 3:25 p.m.: 24 IR 1535)