Ala. Admin. Code r. 335-5-1-.04

Current through Register Vol. 43, No. 1, October 31, 2024

Section 335-5-1-.04 - Holder

(1) Any person may be a holder. An environmental covenant may identify more than one holder. The holder's interest is an interest in real property.

(2) A right of the Department under the Act or under an environmental covenant, other than a right as a holder, is not an interest in real property.

(3) The Department is bound by any obligation it assumes in an environmental covenant, but does not assume obligations merely by signing an environmental covenant.

(4) Any other person who signs an environmental covenant is bound by the obligations the person assumes in the covenant; however, signing the covenant does not change the person's obligations, rights, or protections granted to or imposed upon that person under other law, except as provided in the covenant.

Ala. Admin. Code r. 335-5-1-.04

New Rule: Filed April 21, 2009; effective May 26, 2009.

Authors: James L. Bryant; Lawrence A. Norris

Statutory Authority:Code of Ala. 1975, §§ 35-19-3; 35-19-13.