6704.1 In order to meet financial Test A, the owner/guarantor shall have a tangible net worth of at least ten (10) times the aggregate total of the following:

(a) The total of the applicable aggregate amount required by § 6700, based on the number of underground storage tanks for which a financial test is used to demonstrate financial responsibility to the Director;

(b) The sum of the corrective action cost estimates, the current closure and post-closure care cost estimates, and the amount of liability coverage for which a financial test is used to demonstrate financial responsibility to the Director; and

(c) The sum of current plugging and abandonment cost estimates for which a financial test is used to demonstrate financial responsibility to the Director.

6704.2 Under Test A, the owner/guarantor shall have a tangible net worth of at least ten million dollars ($ 10,000,000).

6704.3 Under Test A, the owner/guarantor shall have a letter of assurance signed by the chief financial officer in the form specified in Appendix 67-2 (Alternative I) to this chapter.

6704.4 Under Test A, the owner/guarantor's year-end financial statements, if independently audited, may not include an adverse auditor's opinion, a disclaimer of opinion, or a "going concern" qualification.

6704.5 Under Test A, the owner/guarantor, annually shall do either of the following:

(a) File financial statements with the U.S. Securities and Exchange Commission, the Energy Information Administration, or the Rural Electrification Administration; or

(b) Report the firm's tangible net worth to Dun and Bradstreet. Dun and Bradstreet must have assigned the firm a financial strength rating of 4A or 5A.

SOURCE: Final Rulemaking published at 43 DCR 2799 (May 24, 1996), incorporating text of Proposed Rulemaking published at 42 DCR 5765, 5773 (October 20, 1995); as amended by Final Rulemaking published at 46 DCR 7699 (October 1, 1999).