PURPOSE: This rule outlines the methods allowed for demonstrating financial responsibility for releases from petroleum underground storage tanks.

1. (1) Subject to the limitations of sections (2) and (3) of this rule—

   1. (A) An owner or operator, including a local government owner or operator, may use any one (1) or combination of the mechanisms listed in 10 CSR 20-11.095 through 10 CSR 20-11.103 to demonstrate financial responsibility under 10 CSR 20-11.090 through 10 CSR 20-11.115 for one (1) or more underground storage tanks (USTs); provided, that the total scope and amounts assured meet the requirements of 10 CSR 20- 11.093; and
   2. (B) A local government owner or operator may use any one (1) or combination of the mechanisms listed in 10 CSR 20-11.112 through 10 CSR 20-11.115 to demonstrate financial responsibility under 10 CSR 20- 11.090 through 10 CSR 20-11.115 for one
2. (1) or more USTs; provided, that the total scope and amounts assured meet the requirements of 10 CSR 20-11.093.

3. (2) An owner or operator may use self-insurance to meet any deductible or co-pay portions of either insurance or risk retention group coverage under 10 CSR 20-11.097 or Petroleum Storage Tank Insurance Fund under 10 CSR 20-11.101; provided, that—

   1. (A) The deductible and co-pay amounts do not exceed fifty thousand dollars ($50,000);
   2. (B) The owner or operator shall have a letter signed by the chief financial officer worded as specified in 10 CSR 20-11.095(4); and
   3. (C) The answer(s) to 10 CSR 20-11 Appendix Form 1 (see 10 CSR 20-11.115), Alternative I, line 8, or Alternative II, lines 9 and 15 is (are): yes—except that a current rating of the most recent bond issue by Standard and Poor’s of AAA, AA, A or BBB or Moody’s of Aaa, Aa, A or Ba may be substituted for the line 15 response.
4. (3) An owner or operator may use self-insurance in combination with a guarantee only if, for the purpose of meeting the requirements of the financial test under this rule, the financial statements of the owner or operator are not consolidated with the financial statements of the guarantor.

AUTHORITY: sections 319.114, RSMo (1994) and 319.129 and 644.026, RSMo (Cum. Supp. 1996).* Original rule filed Feb. 7, 1991, effective Aug. 30, 1991. Amended: Filed Aug. 3, 1993, effective April 9, 1994. Amended: Filed Jan. 14, 1997, effective Sept. 30, 1997. *Original authority: 319.114, RSMo (1989); 319.129, RSMo (1989), amended 1991, 1996; and 644.026, RSMo (1972), amended 1973, 1987, 1993.