1. A. An owner or operator shall submit documented evidence of financial responsibility as described under R18-12-301(C) to the Director according to the following:

   1. 1. Within 30 days after the owner or operator identifies a release from an underground storage tank required to be reported under A.R.S. § 49-1004 and the rules promulgated thereunder.

   2. 2. If the owner or operator fails to obtain alternate coverage as required by R18-12-319(B), within 30 days after the owner or operator receives notice of any one of the following:

      1. a. Commencement of a voluntary or involuntary proceeding under Title 11 (Bankruptcy), U.S. Code, naming a provider of financial assurance as a debtor;
      2. b. Suspension or revocation of the authority of a provider of financial assurance to issue a financial assurance mechanism;
      3. c. Failure of a guarantor to meet the requirements of the financial test;
      4. d. Other incapacity of a provider of financial assurance.
   3. 3. As required by R18-12-305(G) and R18-12-319(B).
2. B. An owner or operator shall include in the initial or updated Notification Form a certification of compliance with the financial responsibility requirements of this Article.
3. C. The Director may, at any time, require owners and operators to submit evidence of financial assurance as described in R18-12-301 or other information relevant to compliance with A.R.S. §§ 49-1006 through 49-1006.02 and this Article.

Historical Note

Adopted effective September 21, 1992 (Supp. 92-3). Amended effective July 30, 1996 (Supp. 96-3). Amended by final rulemaking at 25 A.A.R. 3123, effective January 1, 2020 (Supp. 19-4).