§811.701. Upgrading Financial Assurance

a)         The owner or operator shall maintain financial assurance equal to or greater than the current cost estimate calculated pursuant to Section 811.704 at all times, except as otherwise provided by subsection (b).

 

b)         The owner or operator shall increase the total amount of financial assurance so as to equal the current cost estimate within 90 days after any of the following occurrences:

 

1)         An increase in the current cost estimate;

 

2)         A decrease in the value of a trust fund;

 

3)         A determination by the Agency that an owner or operator no longer meets the gross revenue test of Section 811.715(d) or the financial test of Section 811.715(e); or,

 

4)         Notification by the owner or operator that the owner or operator intends to substitute alternative financial assurance, as specified in Section 811.706, for self-insurance.

 

c)         The owner or operator of a MSWLF unit shall annually make adjustments for inflation if required pursuant to Section 811.704(k)(2) or 811.705(d).

 

(Source:  Amended in R93-10 at 18 Ill. Reg. 1308, effective January 13, 1994)