New Jersey Statutes 13:1E-68. Evidence of financial responsibility; mechanism to defray closing costs and post-closure monitoring expenses
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Terms Used In New Jersey Statutes 13:1E-68
- Escrow: Money given to a third party to be held for payment until certain conditions are met.
- 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.
The department shall require that the owner or operator of every major hazardous waste facility provide evidence of financial responsibility for the duration of the operation of the facility and establish a mechanism to defray closing costs and post-closure monitoring expenses for such period of time as may be deemed necessary by the department, whether by escrow accounts, performance bonds or otherwise. Post-closure monitoring of major hazardous waste facilities shall be assumed by the department 30 years subsequent to the closure of a particular facility.
L.1981, c. 279, s. 20, eff. Sept. 10, 1981.