Section 20-51 - Release of the Permittee from the Requirements of Financial Assurance (a) No bond or other form of financial assurance may be canceled by the surety unless sixty (60) days prior written notice is given the Director and the Director gives written consent, which may be granted only when the requirements of these regulations have been fulfilled.
(b) When closure and corrective actions required by a permit are complete, financial assurance shall be released by the Department. - (i) When the Administrator determines that initial closure activities have been completed for a permit, financial assurance less retainages shall be released.
- (ii) A sufficient amount of financial assurance shall be retained to pay for estimated costs of post-closure activities. This portion of the financial assurance shall be held for a period of at least three (3) years after initial facility closure activities are completed.
- (iii) The corrective action contingency bond amount shall be reduced 20 percent per year after initial closure activities have been completed. The reduction rate may be adjusted by the Administrator if justified to provide for the costs of unresolved remedial action requirements. Such amounts shall be held until remedial actions are complete.
- (iv) Release of any amounts of financial assurance shall not release the permittee or other responsible person from any responsibility for meeting closure or corrective action requirements.
020-20 Wyo. Code R. § 20-51