Kan. Admin. Regs. § 28-29-2113

Current through Register Vol. 44, No. 1, January 2, 2025

Section 28-29-2113 - Financial assurance provided by a simplified financial instrument

(a) Simplified financial instrument.

(1) Any owner or operator of a permitted solid waste disposal area or processing facility with a current closure cost estimate equal to or less than $100,000, and with financial assurance from a single provider for that facility, may provide financial assurance in a simplified form of surety bond or letter of credit, instead of by use of any other financial instrument specified in K.A.R. 28-29-2101(b). The owner or operator of the facility may, with the department's approval, use an assigned certificate of deposit or assigned escrow account to provide financial assurance if the facility closure cost estimate is $25,000 or less.

(2) The simplified forms of financial instruments specified in this regulation shall not be used to provide financial assurance for the estimated cost of postclosure or corrective action.

(b) Form of the simplified financial instrument. The wording of the simplified surety bond or letter of credit shall be identical to the wording in the documents provided by the department.

(c) When a simplified financial instrument shall not be used. Whenever the estimate of closure cost exceeds $100,000 for any facility for which one of the simplified financial instruments specified in subsection (a) is in use, or whenever requested by the department, the owner or operator shall substitute, for that facility, one or more alternative methods of financial assurance as specified in K.A.R. 28-29-2101(b).

(d) The provisions of this regulation shall apply on and after February 24, 2000.

Kan. Admin. Regs. § 28-29-2113

Authorized by K.S.A. 1998 Supp. 65-3406; implementing K.S.A. 1998 Supp. 65-340, as amended by L. 1999, Ch. 112, Sec. 1; effective Feb. 24, 2000.