An owner or operator may satisfy the requirements of this chapter by establishing more than one financial assurance mechanism per facility. The executive director may use any or all of the mechanisms to satisfy the requirements for which financial assurance was provided. These mechanisms are limited to those specified in Subchapter C of this chapter (relating to Financial Assurance Mechanisms for Closure) or Subchapter F of this chapter (relating to Financial Assurance Mechanisms for Liability), except that the financial test or corporate guarantee may not be combined with other mechanisms, provided the mechanisms are for the same facility.

1. (1) It shall be the combination of mechanisms, rather than the single mechanism, which shall provide financial assurance for an amount that must be at least equal to the minimum financial assurance requirements of this chapter.
2. (2) If an owner or operator uses a trust fund in combination with a surety bond or irrevocable standby letter of credit, the owner or operator may use that trust fund as the standby trust fund for the other mechanisms.
3. (3) A single standby trust may be established for two or more mechanisms.
4. (4) If an owner or operator demonstrates the required liability coverage through the use of a combination of financial assurance mechanisms, the owner or operator shall specify at least one such assurance as "primary" coverage and shall specify other assurance as "excess."

Source Note:The provisions of this §37.41 adopted to be effective December 30, 1996, 21 TexReg 12297.