NR 665.0147(7)(b)1.1. In the case of corporations incorporated in the United States, a guarantee may be used to satisfy the requirements of this section only if the attorneys general or insurance commissioners of the following states have submitted a written statement to the department that a guarantee executed as described in this section and s. NR 664.0151 (8), 40 CFR 264.151(h)(2) or other state requirements that are equivalent to 40 CFR 264.151(h)(2) is a legally valid and enforceable obligation in that state: NR 665.0147(7)(b)2.2. In the case of corporations incorporated outside the United States, a guarantee may be used to satisfy the requirements of this section only if all of the following conditions are met: NR 665.0147(7)(b)2.a.a. The non-U.S. corporation has identified a registered agent for service of process in each state in which a facility covered by the guarantee is located and in the state in which it has its principal place of business. NR 665.0147(7)(b)2.b.b. The attorney general or insurance commissioner of each state in which a facility covered by the guarantee is located and the state in which the guarantor corporation has its principal place of business, has submitted a written statement to the department that a guarantee executed as described in this section and s. NR 664.0151 (8), 40 CFR 264.151(h)(2) or other state requirements that are equivalent to 40 CFR 264.151(h)(2) is a legally valid and enforceable obligation in that state. NR 665.0147(8)(a)(a) An owner or operator may satisfy the requirements of this section by obtaining an irrevocable letter of credit that conforms to the requirements of this subsection and submitting a copy of the letter of credit to the department. NR 665.0147(8)(b)(b) The financial institution issuing the letter of credit shall be an entity that has the authority to issue letters of credit and whose letter of credit operations are regulated and examined by a federal or state agency. NR 665.0147(9)(a)(a) An owner or operator may satisfy the requirements of this section by obtaining a surety bond that conforms to the requirements of this subsection and submitting a copy of the bond to the department. NR 665.0147(9)(b)(b) The surety company issuing the bond shall be among those listed as acceptable sureties on federal bonds in the most recent circular 570 of the U.S. department of the treasury. NR 665.0147(9)(d)(d) A surety bond may be used to satisfy the requirements of this section only if the attorneys general or insurance commissioners of the following states have submitted a written statement to the department that a surety bond executed as described in this section and s. NR 664.0151 (12), 40 CFR 264.151(l) or other state requirements that are equivalent to 40 CFR 264.151(l) is a legally valid and enforceable obligation in that state: NR 665.0147(10)(a)(a) An owner or operator may satisfy the requirements of this section by establishing a trust fund that conforms to the requirements of this subsection and submitting an originally signed duplicate of the trust agreement to the department. NR 665.0147(10)(b)(b) The trustee shall be an entity which has the authority to act as a trustee and whose trust operations are regulated and examined by a federal or state agency. NR 665.0147(10)(c)(c) The trust fund for liability coverage shall be funded for the full amount of the liability coverage to be provided by the trust fund before it may be relied upon to satisfy the requirements of this section. If at any time after the trust fund is created the amount of funds in the trust fund is reduced below the full amount of the liability coverage to be provided, the owner or operator, by the anniversary date of the establishment of the fund, shall either add sufficient funds to the trust fund to cause its value to equal the full amount of liability coverage to be provided, or obtain other financial assurance as specified in this section to cover the difference. For purposes of this subsection, “the full amount of the liability coverage to be provided” means the amount of coverage for sudden or nonsudden occurrences, or both, required to be provided by the owner or operator by this section, less the amount of financial assurance for liability coverage that is being provided by other financial assurance mechanisms being used to demonstrate financial assurance by the owner or operator. NR 665.0147 HistoryHistory: CR 05-032: cr. Register July 2006 No. 607, eff. 8-1-06; CR 16-007: am. (5) Register July 2017 No. 739, eff. 8-1-17. NR 665.0148NR 665.0148 Incapacity of owners or operators, guarantors or financial institutions. NR 665.0148(1)(1) An owner or operator shall notify the department by certified mail of the commencement of a voluntary or involuntary bankruptcy proceeding under 11 USC, naming the owner or operator as debtor, within 10 days after commencement of the proceeding. NR 665.0148(2)(2) An owner or operator who fulfills the requirements of s. NR 665.0143, 665.0145 or 665.0147 by obtaining a trust fund, surety bond, letter of credit or insurance policy will be deemed to be without the required financial assurance or liability coverage in the event of bankruptcy of the trustee or issuing institution, or a suspension or revocation of the authority of the trustee institution to act as trustee or of the institution issuing the surety bond, letter of credit or insurance policy to issue the instruments. The owner or operator shall establish other financial assurance or liability coverage within 60 days after such an event. NR 665.0148 HistoryHistory: CR 05-032: cr. Register July 2006 No. 607, eff. 8-1-06.