Section 329IAC9-8-5. Allowable mechanisms and combinations of mechanisms

   (a) Subject to the limitations of subsections (b) and (c), an owner or operator may use the following to demonstrate financial responsibility:

(1) An owner or operator, including a local government owner or operator, may use any one (1) or combination of the mechanisms listed in sections 6 through 13 of this rule to demonstrate financial responsibility under this rule for one (1) or more underground storage tanks.

(2) A local government owner or operator may use any one (1) or combination of the mechanisms listed in sections 14 through 17 of this rule to demonstrate financial responsibility under this rule for one (1) or more underground storage tanks.

  (b) An owner or operator may use a:

(1) guarantee under section 7 or 11(c)(8) of this rule; or

(2) surety bond under section 9 of this rule;

to establish financial responsibility only if the attorney general of Indiana has submitted a written statement to the commissioner that a guarantee or surety bond executed as described in this section is a legally valid and enforceable obligation in Indiana.

  (c) 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. (Solid Waste Management Division; 329 IAC 9-8-5; filed Jul 19, 1999, 12:00 p.m.: 22 IR 3730; readopted filed Jan 10, 2001, 3:25 p.m.: 24 IR 1535)