Delaware Code Title 7 Sec. 9206 – Financial assurance
(a) Within 60 days from the transfer of an establishment or the start up of a new establishment, the owner or operator shall provide to the Department evidence of financial assurance in accordance with the regulations promulgated pursuant to this chapter. Evidence of financial assurance must be in a sufficient form and amount necessary to insure that, upon termination, abandonment, or liquidation of all activities at the establishment that all appropriate means are taken to stabilize and secure the establishment, including but not limited to those activities as set forth in § 9205(b) of this title.
Terms Used In Delaware Code Title 7 Sec. 9206
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- 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.
- State: means the State of Delaware; and when applied to different parts of the United States, it includes the District of Columbia and the several territories and possessions of the United States. See Delaware Code Title 1 Sec. 302
(b) The Department shall promulgate regulations containing requirements for maintaining evidence of financial assurance as deemed necessary with respect to the size of the establishment and the quantities of chemicals maintained and generated as wastes thereon, needed to stabilize and secure the facility, taking into account, and giving due credit for, financial assurance established through other Department programs. Evidence of financial assurance may include, but not be limited to, insurance, guarantee, surety bond, letter of credit, proof of assets, qualification as a self-insurer, or other agreements acceptable to the Secretary.
(c) For the purposes of this section, an owner or operator does not mean the federal government, federal or state agencies, counties or municipalities.