(a) Any owner or operator participating in the Petroleum Storage Tank Trust Fund shall maintain the following records and submit them or make them available to the Division of Environmental Quality upon request:

1. (1) Evidence of current financial responsibility for seven thousand five hundred dollars ($7,500) per occurrence; and
2. (2) Any other records as may reasonably be required by the division or the Advisory Committee on Petroleum Storage Tanks in the performance of their duties under the law.

(b) All records necessary to demonstrate that the trust fund eligibility requirements of 8 CAR § 80-302 have been fulfilled shall be retained by the owner or operator until one (1) of the following is accomplished:

1. (1) Closure requirements of this part, if applicable, are satisfied;
2. (2) Responsibility for meeting the financial assurance requirements of this part is legally transferred; or
3. (3) The owner or operator is otherwise instructed in writing by the division.