OAR 340-096-0220: Financial Assurance

(1) The Department shall determine for each applicant the amount of financial assurance required for waste tire storage sites. The Department shall base the amount on the estimated cost of cleanup for the maximum number of waste passenger tire equivalents and/or tire-derived materials allowed by the permit to be stored at the storage site. (2) The Department will only accept financial assurance mechanisms listed in and complying with applicable requirements in OAR 340-095-0095. (3) The financial assurance mechanism shall be filed with the Department and provide that the Department or a party approved by the Department is the beneficiary of the financial assurance. (4) The Department shall make any claim on the financial assurance within one year of any notice of proposed cancellation of the financial assurance.