§ 280.90 Applicability
§ 280.91 Compliance dates
§ 280.92 Definition of terms
§ 280.93 Amount and scope of required financial responsibility
§ 280.94 Allowable mechanisms and combinations of mechanisms
§ 280.95 Financial test of self-insurance
§ 280.96 Guarantee
§ 280.97 Insurance and risk retention group coverage
§ 280.98 Surety bond
§ 280.99 Letter of credit
§ 280.100 Use of state-required mechanism
§ 280.101 State fund or other state assurance
§ 280.102 Trust fund
§ 280.103 Standby trust fund
§ 280.104 Local government bond rating test
§ 280.105 Local government financial test
§ 280.106 Local government guarantee
§ 280.107 Local government fund
§ 280.108 Substitution of financial assurance mechanisms by owner or operator
§ 280.109 Cancellation or nonrenewal by a provider of financial assurance
§ 280.110 Reporting by owner or operator
§ 280.111 Recordkeeping
§ 280.112 Drawing on financial assurance mechanisms
§ 280.113 Release from the requirements
§ 280.114 Bankruptcy or other incapacity of owner or operator or provider of financial assurance
§ 280.115 Replenishment of guarantees, letters of credit, or surety bonds

Terms Used In CFR > Title 40 > Chapter I > Subchapter I > Part 280 > Subpart H - Financial Responsibility

  • Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • assets: means all existing and all probable future economic benefits obtained or controlled by a particular entity as a result of past transactions. See 40 CFR 280.92
  • Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
  • Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
  • Contract: A legal written agreement that becomes binding when signed.
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • Fiduciary: A trustee, executor, or administrator.
  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • Grantor: The person who establishes a trust and places property into it.
  • Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. Source: OCC
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
  • Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
  • Statute: A law passed by a legislature.
  • Trustee: A person or institution holding and administering property in trust.