Section 22247 - CalRecycle - Guarantee (California Code of Regulations)

§ 22247. CalRecycle - Guarantee

(a) The guarantor shall be:

(1) A parent corporation of the operator;

(2) A firm whose parent corporation is also the parent corporation of the operator; or

(3) A firm engaged in a substantial business relationship with the operator and issuing the guarantee as an act incident to that business relationship.

(b) The guarantor shall meet the requirements of the financial means test under § 22246 of this Article based on the guarantor's audited year-end financial statements.

(c) The guarantee shall be worded and completed as specified by form CalRecycle 105 (03/17), which is incorporated by reference.

(d) The terms of the guarantee shall specify that if:

(1) The operator fails or is failing to perform postclosure maintenance in accordance with the applicable approved postclosure maintenance plan when required to do so, the guarantor shall either:

(A) Perform postclosure maintenance in accordance with the applicable approved postclosure maintenance plan; or

(B) Establish and fund a trust fund, as specified in § 22240, in the name of the operator in the amount of the applicable current postclosure maintenance cost estimate covered by the guarantee.

(2) The operator fails to satisfy a judgment or an award for bodily injury and property damage to third parties caused by accidental occurrences, or fails to pay an amount agreed in settlement of a claim arising from or alleged to arise from such injury and damage, the guarantor shall satisfy such judgment, award, or settlement agreement up to the limits of the guarantee.

(e) If the guarantor fails to meet the requirements of the financial means test under Section 22246 or wishes to terminate the guarantee, the guarantor shall send notice of such failure or termination by certified mail to the operator and CalRecycle within 90 days after the end of that financial reporting year. The guarantee shall terminate no less than 60 days after the date that the operator and CalRecycle have received the notice of such failure or termination, as evidenced by the return receipts. The guarantor shall establish alternate coverage as specified in Section 22228 on behalf of the operator within 60 days after such notice, unless the operator has done so.

(f) CalRecycle may require updated financial statements at any time from a guarantor. If CalRecycle finds, on the basis of such reports or information from other sources, including but not limited to, credit reports and reports from other state agencies, that the guarantor no longer meets the financial means test requirements of Section 22246 or any requirements of Section 22247, CalRecycle shall notify the guarantor and operator of such finding by certified mail. The guarantor shall establish alternate coverage as specified in Section 22228 on behalf of the operator within 60 days after such notice, unless the operator has done so.

(1. New section filed 6-18-97; operative 7-18-97 (Register 97, No. 25). 2. Amendment of section heading and subsection (c) filed 2-25-2008; operative 2-25-2008 pursuant to Government Code section 11343.4(Register 2008, No. 9). 3. Change without regulatory effect amending section heading and subsections (c), (e) and (f) and amending form CalRecycle (formerly CIWMB) 105 (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: Sections 43040, 43103 and 43500- 43610, Public Resources Code.

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