OAR 340-064-0022
Financial Assurance
(1)
The Department shall determine for each applicant the amount of financial assurance required under ORS 459.720 (Conditions for storage site permit)(c) and OAR 340-064-0020 (“Second-Stage” or Regular Permit)(1)(b). The Department shall base the amount on the estimated cost of cleanup for the maximum number of waste passenger tire equivalents and/or tire-derived products allowed by the permit to be stored at the storage site or the estimated cost of fire suppression. The amount of financial assurance required for permittees storing waste tires as a beneficial use could be as low as $0 if the use meets applicable operational and storage standards in OAR 340-064-0035 (Standards for Waste Tire Storage Sites), and the Department determines that there will be no need to remove the tires. If the tire-derived products have a positive economic value and are actively being used or sold by the permittee, the Department may reduce or eliminate financial assurance for the tire-derived products.(2)
The Department will accept as financial assurance only those instruments listed in and complying with requirements in OAR 340-095-0095 (Form of Financial Assurance).(3)
The financial assurance shall be filed with the Department.(4)
The Department shall make any claim on the financial assurance within one year of any notice of proposed cancellation of the financial assurance.
Source:
Rule 340-064-0022 — Financial Assurance, https://secure.sos.state.or.us/oard/view.action?ruleNumber=340-064-0022.