§ 22254. CalRecycle - State Approved Mechanism. (T14: section 17258.74)
(a) An operator may satisfy the requirements of this Chapter by obtaining any other mechanism that meets the following criteria, and that is approved by CalRecycle.
(1) The financial assurance mechanisms must ensure that the amount of funds assured is sufficient to cover the costs assured when needed;
(2) The financial assurance mechanisms must ensure that funds will be available in a timely fashion when needed;
(3) The financial assurance mechanism(s) must be obtained by the operator before the first waste is received at a new facility and before any other financial mechanism is cancelled at existing facilities. The financial mechanism must be maintained until the operator is released from the financial assurance requirements under this Chapter.
(4) The financial assurance mechanisms must be legally valid, binding and enforceable under State and Federal law.(1. New section filed 6-18-97; operative 7-18-97 (Register 97, No. 25). 2. Change without regulatory effect amending section heading and subsection (a) filed 12-11-2017 pursuant to section 100, title 1, California Code of Regulations (Register 2017, No. 50).)
Note: Authority cited: Sections 40502 and 40508, Public Resources Code. Reference: Sections 40508 and 43103, Public Resources Code; and Section 258.74, Title 40, Code of Federal Regulations.
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