The owner or operator of a scrap tire processing facility may utilize the following instruments to provide financial assurance for remediation. The instruments used to demonstrate financial assurance shall ensure that the level of financial assurance in 335-4-8-.03(3) will be available whenever they are needed.

1. (a) Trust Fund. An owner or operator may establish a trust fund conforming to the requirements of 335-4-8-.04(a).
2. (b) Letter of Credit. An owner or operator may obtain an irrevocable standby letter of credit conforming to the requirements of 335-4-8-.04(b).
3. (c) Insurance. An owner or operator may obtain remediation insurance conforming to the requirements of 335-4-8-.04(c).
4. (d) Surety Bond. An owner or operator may obtain a surety bond conforming to the requirements of 335-4-8-.04(d).

Author: James L. Bryant

Statutory Authority: Code of Ala. 1975, §§22-40A-1 et seq.

History: New Rule: Filed June 30, 2004; effective August 4, 2004. Amended: Published June 28, 2024; effective August 12, 2024.