Section 22240 - CalRecycle - Trust Fund (California Code of Regulations)

§ 22240. CalRecycle - Trust Fund

(a) The trust fund shall have a trustee that is authorized to act as a trustee and whose trust operations are regulated and examined by a federal or state agency.

(b) The trust agreement shall be worded as specified by and established by using Form CalRecycle 100 (03/17) which is incorporated by reference, with appropriate amendments to identify that the mechanism is utilized for closure and/or postclosure maintenance and/or third party operating liability and/or corrective action.

(c) If, at any time, the value of the trust fund is greater than the required amount of coverage minus the amount of coverage demonstrated by another mechanism, the operator may request in writing that CalRecycle authorize the release of the excess funds. CalRecycle shall review the request within 90 days of receipt of the request. If any excess funds are verified, CalRecycle shall instruct the trustee to release the funds.

(1. New article 2 (sections 22240-22254) and section filed 6-18-97; operative 7-18-97 (Register 97, No. 25). 2. Amendment of section heading and subsection (b) filed 2-25-2008; operative 2-25-2008 pursuant to Government Code section 11343.4 (Register 2008, No. 9). 3. Amendment of article heading filed 4-9-2010; operative 7-1-2010 (Register 2010, No. 15). 4. Change without regulatory effect amending section heading, subsections (b)-(c) and form CalRecycle (formerly CIWMB) 100 (incorporated by reference) filed 12-11-2017 pursuant to section 100, title 1, California Code of Regulations (Register 2017, No. 50).)

Note: Authority cited: Sections 40502 and 43040, Public Resources Code. Reference: Section 43040, 43103 and 43500- 43610, Public Resources Code.

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