(1) An owner or operator may satisfy any part of the applicable requirements of ARM 17.56.805 for underground storage tanks located in Montana by use of the petroleum tank release cleanup fund created by 75-11-313 , MCA. The burden of proof is upon the owner or operator to prove compliance with all necessary prerequisites for coverage by the petroleum tank release cleanup fund.

(2) If an owner or operator uses the petroleum tank release cleanup fund as partial satisfaction of the coverage requirements of ARM 17.56.805, the owner or operator may demonstrate that remaining coverage requirements are met by certifying a tangible net worth equal to that amount.

(3) Certification of tangible net worth must be based on year-end financial statements for the latest completed calendar year and documented on a form approved by the department.

History: 75-11-505, MCA; IMP, 75-11-505, MCA; NEW, 1989 MAR p. 1912, Eff. 11/23/89; TRANS, from DHES, 1995 MAR p. 2259; AMD, 2006 MAR p. 913, Eff. 4/7/06.