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Oklahoma Administrative Code (Last Updated: March 11, 2021) |
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TITLE 252. Department of Environmental Quality |
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Chapter 653. Aquifer Storage and Recovery |
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Subchapter 11. Cost Estimates and Financial Assurance |
SECTION 252:653-11-9. Use of multiple mechanisms
Latest version.
- (a) Multiple mechanisms allowed. Financial assurance requirements may be satisfied by establishing more than one approved financial assurance mechanism described in this Part.(b) Amount must be sufficient. If multiple mechanisms are used, the amount of financial assurance for all mechanisms must total at least the current cost estimate for closure and/or corrective action.(c) Limitations on performance mechanisms. Mechanisms guaranteeing performance rather than payment may not be combined with other mechanisms.(d) Limitations on corporate test or guarantee. The financial test or a guarantee provided by a corporate parent, sibling, or grandparent may not be combined if the financial statements of the two firms are consolidated.