§ 22253. CalRecycle--Insurance and Environmental Fund.
27 CA ADC § 22253Barclays Official California Code of Regulations
Barclays California Code of Regulations
Title 27. Environmental Protection
Division 2. Solid Waste (Refs & Annos)
Subdivision 1. Consolidated Regulations for Treatment, Storage, Processing or Disposal of Solid Waste
Chapter 6. Financial Assurances at Solid Waste Facilities and at Waste Management Units for Solid Waste
Subchapter 3. Allowable Mechanisms (Refs & Annos)
Article 2. Calrecycle--Financial Assurance Mechanisms
27 CCR § 22253
§ 22253. CalRecycle--Insurance and Environmental Fund.
(c) The operator shall submit certification of coverage to demonstrate the establishment and maintenance of comprehensive general liability insurance coverage with limits in at least the amounts specified in Article 3 of Subchapter 2 of this Chapter. This insurance must conform to the requirements of § 22251(a - d) and/or § 22252(a); and
(d) The operator shall demonstrate the establishment of an environmental liability fund, which shall be fully funded, as described, before July 2, 1997. This means that the operator shall make the initial payment as described in (d)(3) by July 2, 1992 and subsequent payments as described in section (d)(4) on July 1st of the following years: 1993, 1994, 1995, 1996, and 1997.
(3) The funding of the environmental liability fund shall be initiated with a payment of $200,000 or a payment that is at least equal to the applicable aggregate liability coverage amount specified in Article 3 of Subchapter 2 of this Chapter, divided by 5, which is the maximum number of years in the pay-in period.
Minimum Payment = | AC - CV |
Y + 1 |
where AC is the aggregate coverage required, CV is the current value of the trust fund and Y is the number of years remaining in the pay-in period.
(6) If the value of the environmental liability fund becomes greater than the total amount of the applicable aggregate liability coverage, the operator may request in writing that the CIWMB authorize the release of the excess funds. CalRecycle shall review the request within 90 days of receipt of the request. If any excess funds are verified, CalRecycle shall instruct the trustee to release the funds.
Credits
Note: Authority cited: Sections 40502 and 43040, Public Resources Code. Reference: Sections 43040 and 43103, Public Resources Code.
History
1. New section filed 6-18-97; operative 7-18-97 (Register 97, No. 25).
2. Amendment of section heading and section filed 2-25-2008; operative 2-25-2008 pursuant to Government Code section 11343.4 (Register 2008, No. 9).
3. Change without regulatory effect amending section heading and subsections (b), (d)(2) and (d)(6) and amending forms CalRecycle (formerly CIWMB) 110 and 111 (incorporated by reference) filed 12-11-2017 pursuant to section 100, title 1, California Code of Regulations (Register 2017, No. 50).
This database is current through 7/12/24 Register 2024, No. 28.
Cal. Admin. Code tit. 27, § 22253, 27 CA ADC § 22253
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