North Carolina § 143-215 - 94H. Financial responsibility.

§ 143-215. 94H. Financial responsibility.

The Department shall require each owner and operator of a petroleum underground storage tank who is required to demonstrate financial responsibility under rules promulgated by the United States Environmental Protection Agency pursuant to 42 U.S.C. § 6991b(d) to maintain evidence of financial responsibility that is the lesser of: The full amount of the financial responsibility that an owner or operator is required to demonstrate under rules promulgated by the United States Environmental Protection Agency pursuant to 42 U.S.C. § 6991b(d). The amounts required to be paid for by the owner or operator pursuant to G.S. 143-215.94E(b) per occurrence for costs described in G.S. 143-215.94B(b) and G.S. 143-215.94B(b1) if costs are eligible to be paid under those subsections. Financial responsibility may be established in accordance with rules adopted by the Commission which shall provide that financial responsibility may be established by either insurance, guarantee, surety bond, letter of credit, qualification as a self-insurer, or any combination thereof. The compliance date schedule for demonstrating financial responsibility shall conform to the schedule adopted by the Environmental Protection Agency. History (1987 (Reg. Sess., 1988), c. 1035, s. 1; 1989, c. 652, s. 10; 1993, c. 402, s. 5; 2008-195, s. 4; 2009-570, s. 19.) Editor's Note. - This section was amended by Session Laws 2008-195, s. 4, in the coded bill drafting format provided by G.S. 120-20.1 . At the beginning of what is now subdivision (2), the word "the" that now appears following "The" was not struck through. Session Laws 2009-570, s. 19 corrected the oversight. Effect of Amendments. - Session Laws 2008-195, s. 4, effective August 8, 2008, divided the former first sentence of the section into the present introductory language of subsection (a) and subdivision (a)(2); in subsection (a), substituted "that is the lesser of" for "of not less than" in the introductory language, added subdivision (a)(1), and in subdivision (a)(2), inserted "The" at the beginning and substituted "G.S. 143-215.94B(b1) if costs are eligible to be paid under those subsections" for "G.S. 143-215.94D(b1)"; and designated the former last two sentences of the section as subsection (b). Session Laws 2009-570, s. 19, effective August 28, 2009, deleted the duplicate instance of "the" at the beginning of subdivision (a)(2).