An owner or operator may use a universal mechanism to meet the requirements of this chapter for multiple facilities permitted, licensed or registered in multiple program areas, provided the mechanism is allowed to be used in the program areas represented. The amount of funds demonstrated by the universal mechanism must be no less than the sum of funds that would be available if separate mechanisms were established and maintained. The wording of the mechanisms must be in a form satisfactory to the executive director. The available mechanisms are those specified in Subchapter C of this chapter (relating to Financial Assurance Mechanisms for Closure) and 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 specified mechanisms and a standby trust fund shall be required in certain circumstances. A universal mechanism submitted to the executive director shall include a list showing for each facility covered by the mechanism: the name, physical and mailing address of the facility, each program area and commission registration, license or permit number, the rules regulating the program under which the facility is permitted, licensed or registered, and the amount of funds demonstrated for each permit, license or registration for closure, post closure, corrective action, liability, and decommissioning. The anniversary date of the universal mechanism is the date on which owners or operators shall make an annual inflation adjustment for all facilities demonstrating through the universal mechanism. In directing funds available through the universal mechanism for any of the facilities covered by the mechanism, the executive director may direct only the amount of funds designated for each permit, license, or registration for that facility.

Source Note:The provisions of this §37.52 adopted to be effective November 2, 1998, 23 TexReg 11159.