Upon a change of permit ownership, the board shall release the existing financial assurance if:

1. (1) The owner or operator who posted the financial assurance makes a written request for release of the existing financial assurance and is in compliance with all provisions of the permit or permit conditions; and

2. (2) The successor owner or operator is in compliance with federal, state, and local laws or regulations within or outside of the state of South Dakota, assumes all liability for the permitted activity, posts financial assurance in a form approved by the board, and complies with provisions of this chapter and SDCL 34A-10-2.1 to 34A-10-2.4, inclusive.

   Release of the existing financial assurance may not occur until the financial assurance posted by the successor owner or operator is in effect and on file with the department. After the board has released the financial assurance, the board or department shall notify the former owner or operator in writing.

Source: 24 SDR 90, effective January 4, 1998.

General Authority: SDCL 34A-10-2.4.

Law Implemented: SDCL 34A-10-2.1 , 34A-10-2.3 , 34A-10-2.4.