PURPOSE: The owner or operator, or financial assurance provider shall notify the department of bankruptcy proceedings affecting the availability of financial responsibility.

Editor’s Note: The secretary of state has determined that the publication of this rule in its entirety would be unduly cumbersome or expensive. The entire text of the material referenced has been filed with the secretary of state. This material may be found at the Office of the Secretary of State or at the headquarters of the agency and is available to any interested person at a cost established by state law.

1. (1) Within ten (10) days after commencement of a voluntary or involuntary proceeding under Title 11 (Bankruptcy), United States Code, naming an owner or operator as debtor, the owner or operator shall notify the director by certified mail of the commencement and submit the appropriate forms listed in 10 CSR 20-11.107(2) documenting current financial responsibility.
2. (2) Within ten (10) days after commencement of a voluntary or involuntary proceeding under Title 11 (Bankruptcy), United States Code, naming a guarantor providing financial assurance as debtor, this guarantor shall notify the owner or operator by certified mail of the commencement as required under the terms of the guarantee specified in 10 CSR 20-11.096.
3. (3) Within ten (10) days after commencement of a voluntary or involuntary proceeding under Title 11 (Bankruptcy), United States Code, naming a local government owner or operator as debtor, the local government owner or operator shall notify the director by certified mail of the commencement and submit the appropriate forms listed in 10 CSR 20- 11.107(2) documenting current financial responsibility.
4. (4) Within ten (10) days after commencement of a voluntary or involuntary proceeding under Title 11 (Bankruptcy), United States Code, naming a guarantor providing a local government financial assurance as debtor, this guarantor shall notify the local government owner or operator by certified mail of the commencement as required under the terms of the guarantee specified in 10 CSR 20-11.106.
5. (5) An owner or operator who obtains financial assurance by a mechanism other than the financial test of self-insurance will be deemed to be without the required financial assurance in the event of a bankruptcy or incapacity of its provider of financial assurance, or a suspension or revocation of the authority of the provider of financial assurance to issue a guarantee, insurance policy, risk retention group coverage policy, surety bond or letter of credit. The owner or operator shall obtain alternate financial assurance as specified in 10 CSR 20-11.090 through 10 CSR 20- 11.115 within thirty (30) days after receiving notice of the event. If the owner or operator does not obtain alternate coverage within thirty (30) days after notification, s/he shall notify the director.
6. (6) Within thirty (30) days after receipt of notification that the Petroleum Storage Tank Insurance Fund has become incapable of paying for assured corrective action or third-party compensation costs, the owner or operator shall obtain alternate financial assurance.

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.