Chapter 9 FINANCIAL RESPONSIBILITY – APPLICABILITY The financial responsibility provisions apply to owners and operators of all petroleum UST systems except those exempted in §003 of this Chapter. OPERATING UST SYSTEMS Owners and operators of petroleum UST systems are subject to the requirements of this chapter if they are in operation on or the effective date of these regulations. EXCLUSIONS Financial responsibility requirements shall not apply to the following groups of tank owners and operators: State and federal government entities whose debts and liabilities are the debts and liabilities of a state or the United States. Owners and operators of tanks excluded or deferred in §002 of Chapter 1 of this Title. LIABILITY OF PARTIES If the owner and operator of a petroleum UST are separate persons, only one person is required to demonstrate financial responsibility; however, both parties are liable in the event of noncompliance. DEFINITIONS "“Accidental release"” any sudden or non-sudden release of petroleum from an underground storage tank that results in a need for corrective action and/or compensation for bodily injury or property damage neither expected nor intended by the tank owner or operator. "“Bodily injury"” have the meaning given to this term by applicable state law; however, this term shall not include those liabilities which, consistent with standard insurance industry practices, are excluded from coverage in liability insurance policies for bodily injury. "“Chief Financial officer,"” in the case of local government owners and operators, means the individual with the overall authority and responsibility for the collection, disbursement and use of funds by the local government.
Chapter 9 – FINANCIAL RESPONSIBILITY APPLICABILITY The financial responsibility provisions apply to owners and operators of all petroleum UST systems except those exempted in §003 of this Chapter. OPERATING UST SYSTEMS Owners and operators of petroleum UST systems are subject to the requirements of this chapter if they are in operation on or the effective date of these regulations. EXCLUSIONS Financial responsibility requirements shall not apply to the following groups of tank owners and operators: State and federal government entities whose debts and liabilities are the debts and liabilities of a state or the United States. Owners and operators of tanks excluded or deferred in §002 of Chapter 1 of this Title. LIABILITY OF PARTIES If the owner and operator of a petroleum UST are separate persons, only one person is required to demonstrate financial responsibility; however, both parties are liable in the event of noncompliance. DEFINITIONS "“Accidental release"” any sudden or non-sudden release of petroleum from an underground storage tank that results in a need for corrective action and/or compensation for bodily injury or property damage neither expected nor intended by the tank owner or operator. "“Bodily injury"” have the meaning given to this term by applicable state law; however, this term shall not include those liabilities which, consistent with standard insurance industry practices, are excluded from coverage in liability insurance policies for bodily injury. "“Chief Financial officer,"” in the case of local government owners and operators, means the individual with the overall authority and responsibility for the collection, disbursement and use of funds by the local government.
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