Section 60. Allowable mechanisms and combinations of mechanisms

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A. Subject to the limitations of subsection B of this section, an operator may use any one or combination of the mechanisms listed in 9VAC25-640-70 through 9VAC25-640-120 to demonstrate financial responsibility under this chapter for one or more aboveground storage tanks or pipelines.

B. An operator may use self-insurance in combination with a guarantee only if, for the purpose of meeting the requirements of the financial test under this regulation, the financial statements of the operator are not consolidated with the financial statements of the guarantor.

Historical Notes

Derived from Volume 17, Issue 10, eff. March 2, 2001.

Statutory Authority

§§ 62.1-44.15 and 62.1-44.34:16 of the Code of Virginia.

                    
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