Authority: IC 13-23-11-7

Affected: IC 13-23

Sec. 2. (a) After consultation with the financial assurance board, the administrator may determine that the fund does not provide evidence of financial assurance for owners and operators.

(b) If a determination is made under subsection (a), the administrator shall notify all fund participants by certified mail.

(c) The fund coverage continues for sixty (60) days after the notice of insufficient funds to provide for financial assurance is sent to the fund participants.

(d) Within thirty (30) days after receipt of the notice of insufficient funds, owners and operators shall:

1. (1) acquire financial assurance as required under 329 IAC 9; and
2. (2) provide proof of financial responsibility to the department.

(e) Invocation of prioritization under 328 IAC 1-4 does not constitute termination of financial assurance under this section.

(Petroleum Storage Tank Financial Assurance Board; 328 IAC 1-7-2; filed Dec 4, 1992, 11:00 a.m.: 16 IR 1057; readopted filed Jan 10, 2001, 3:21 p.m.: 24 IR 1534; filed Oct 17, 2001, 4:30 p.m.: 25 IR 803; filed Aug 30, 2004, 9:40 a.m.: 28 IR 144; readopted filed May 14, 2007, 1:52 p.m.: 20070523-IR-328070137BFA; readopted filed Jul 29, 2013, 9:18 a.m.: 20130828-IR-328130177BFA; filed Jul 27, 2018, 2:31 p.m.: 20180822-IR-328150231FRA; filed Oct 30, 2024, 10:51 a.m.: 20241127-IR-328230811RFA)