Every owner or operator of an AST is required to establish and maintain Trust Fund eligibility in accordance with the following requirements:

1. (a) Registration of the tanks with the Department.
2. (b) The owner or operator remains in substantial compliance for each AST.
3. (c) The owner or operator must comply with ADEM Admin. Code R. 335-6-6-.03 and 335-6-6-.12(r) and Code of Federal Regulations (CFR) Title 40 Part 112 (40 CFR 112).
4. (d) Every owner or operator of an AST is required to maintain financial responsibility in the amount of $10,000 per occurrence or another amount if required by the Commission, by any one or combination of the following: insurance, guarantee, surety bond, letter of credit or qualification as a self-insurer by demonstration of a tangible net worth in the amount of $25,000.

5. (e) The owner or operator shall maintain the following records and submit or make them available to the Department upon request.

   1. 1. Evidence of current financial responsibility for $10,000 per occurrence or other amount as may be required by the Commission; or
   2. 2. Evidence of current ability to self-insure by demonstrating net worth of $25,000; and
   3. 3. Any other records as may be required by the Department.

6. (f) All records identified in subparagraph (e) above shall be retained until one of the following is accomplished:

   1. 1. Closure requirements of Chapter 335-6-15 of the ADEM Administrative Code are satisfied;
   2. 2. Ownership of an AST, is transferred to a new owner; or
   3. 3. Owner or operator is instructed otherwise by the Department.

Author: James Stevens

Statutory Authority: Code of Ala. 1975, §§22A-35A-5, 22A-35A-7.

History: Amended: Filed March 18, 1994; effective April 22, 1994.