b) The trustee must be an entity that has the authority to act as a trustee and of whom either of the following is true:

1. 1) It is an entity whose trust operations are examined by the Illinois Department of Financial and Professional Regulation under the Illinois Banking Act [205 ILCS 5]; or
2. 2) It is an entity that complies with the Corporate Fiduciary Act [205 ILCS 620].

g) Release of Excess Funds

1. 1) If the value of the financial assurance is greater than the total amount of the current cost estimate, the owner or operator may submit a written request to the Agency for a release of the amount in excess of the current cost estimate.
2. 2) Within 60 days after receiving a request from the owner or operator for a release of funds, the Agency must instruct the trustee to release to the owner or operator the funds as the Agency specifies in writing to be in excess of the current cost estimate.

h) Reimbursement for Closure, Post-closure Care, and Corrective Action Expenses

1. 1) After initiating corrective action, closure, or post-closure care an owner or operator, or any other person authorized to perform corrective action, closure, or post-closure care, may request reimbursement for closure, post-closure care, or corrective action expenditures by submitting itemized bills to the Agency.
2. 2) Within 60 days after receiving the itemized bills for closure, post-closure care, or correction action activities, the Agency must determine whether the expenditures are in accordance with the closure, post-closure care, or corrective action plan. The Agency must instruct the trustee to make reimbursement in amounts the Agency specifies in writing as expenditures made in accordance with the closure, post-closure care, or corrective action plan.

3. 3) If the Agency determines, based on information available to it, that the cost of closure and post-closure care or corrective action will be greater than the value of the trust fund, it must withhold reimbursement of amounts it determines are necessary to preserve the fund in order to accomplish closure and post-closure care or corrective action until it determines that the owner or operator is no longer required to maintain financial assurance for closure and post-closure care or corrective action. If the fund is inadequate to pay all claims, the Agency must pay claims according to the following priorities:

   1. A) Persons with whom the Agency has contracted to perform closure, post-closure care, or corrective action activities (first priority);
   2. B) Persons who have completed closure, post-closure care, or corrective action authorized by the Agency (second priority);
   3. C) Persons who have completed work that furthered the closure, post-closure care, or corrective action (third priority);
4. D) The owner or operator and related business entities (last priority).