<html> <head> <title>Rule 74:27:16:05 Financial assurance mechanism.</title> <META NAME="Keywords" Content="Administrative Rules 74:27:16:05"> <META NAME="Description" Content="Administrative Rules 74:27:16:05 Financial assurance mechanism."> <meta name=Generator content="Microsoft Office HTML Filter 2.0"> <meta http-equiv=Content-Type content="text/html; charset=windows-1252"> <meta name=Originator content="Microsoft Word 10"> <style> <!-- --> </style> </head> <body lang=EN-US> <div> <p><font size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>74:27:16:05.&nbsp;&nbsp;Financial assurance mechanism.</b> A financial assurance mechanism is required for closure activities, postclosure care activities, and any corrective action required by chapter 74:27:21. In addition, the owner or operator may be required to provide a financial assurance mechanism for environmental remediation activities, as required by §&nbsp;74:27:16:04. The owner or operator may chose one or more of the following mechanisms, which comply with the provisions of 40 C.F.R. Part 258.74, as published on 56 Fed. Reg. 51,030 to 51,032, inclusive (October 9, 1991), to satisfy the provisions of this chapter:</font></p> <p><font size=3 face="Times New Roman">&nbsp;</font></p> <p><font size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1)&nbsp;&nbsp;Trust fund;</font></p> <p><font size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2)&nbsp;&nbsp;Security bond guaranteeing payment or performance;</font></p> <p><font size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3)&nbsp;&nbsp;Letter of credit;</font></p> <p><font size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (4)&nbsp;&nbsp;Insurance; or</font></p> <p><font size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (5)&nbsp;&nbsp;Cash.</font></p> <p><font size=3 face="Times New Roman">&nbsp;</font></p> <p><font size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The board or secretary may approve an alternative form of financial assurance if the alternative form complies with the applicable provisions of this chapter.</font></p> <p><font size=3 face="Times New Roman">&nbsp;</font></p> <p><font size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>Source:</b> 17 SDR 8, effective July 26, 1990; 19 SDR 186, effective June 10, 1993.</font></p> <p><font size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>General Authority:</b> SDCL <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=34A-6-1.6">34A-6-1.6.</A></font></p> <p><font size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>Law Implemented:</b> SDCL <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=34A-6-1.6">34A-6-1.6</A>, <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=34A-6-1.11">34A-6-1.11</A>, <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=34A-6-1.12">34A-6-1.12.</A></font></p> <p><font size=3 face="Times New Roman">&nbsp;</font></p> </div> </body> </html>