PURPOSE: This rule describes the requirements for a standby trust fund.

1. (1) An owner or operator using any one (1) of the mechanisms authorized by 10 CSR 20- 11.096, 10 CSR 20-11.098 or 10 CSR 20- 11.099 shall establish a standby trust fund when the mechanism is acquired. The trustee of the standby trust fund shall be an entity that has the authority to act as a trustee and whose trust operations are regulated and examined by a federal agency or an agency of this state.
2. (2) The standby trust agreement must be worded as specified in 10 CSR 20-11 Appendix, Form 7 (see 10 CSR 20-11.115).
3. (3) The standby trust agreement must be accompanied by a formal certification of acknowledgment as specified in 10 CSR 20- 11 Appendix, Form 8 (see 10 CSR 20- 11.115).
4. (4) The director will instruct the trustee to refund the balance of the standby trust fund to the provider of financial assurance if the director determines that no additional correc- 10 CSR 20-11

tive action costs or third-party liability claims will occur as a result of a release covered by the financial assurance mechanism for which the standby trust fund was established.

1. (5) An owner or operator may establish one
2. (1) trust fund as the depository mechanism for all funds assured in compliance with this rule.

AUTHORITY: sections 319.114, RSMo (Cum. Supp. 1989) and 644.026, RSMo (Cum. Supp. 1993).* Original rule filed Feb. 7, 1991, effective Aug. 30, 1991. *Original authority: 319.114, RSMo (1989) and 644.026, RSMo (1972), amended 1973, 1987, 1993.