§176.215. Mechanisms of Financial Responsibility

Under Section 6.1 of the Gasoline Storage Act, only the following may be considered acceptable mechanisms for financial responsibility: 

 

a)         Commercial or private insurance, including risk retention groups;

 

b)         Self-insurance, if there is a tangible net worth of at least $200,000;

 

c)         Guarantee;

 

d)         Surety bond;

 

e)         Letter of credit;

 

f)         Certificate of deposit;

 

g)         Designated savings account; or

 

h)         Any combination of the mechanisms listed in this Section.

 

(Source:  Amended at 42 Ill. Reg. 10621, effective October 13, 2018)