(1) Whenever an owner or operator requests the board to guarantee reimbursement for eligible costs not yet approved by the board, or estimated costs not yet incurred, the board will issue the requested guarantee, with no specific dollar amount, if it is able to make the necessary findings under (2) .

(2) The board must find, before guaranteeing reimbursement of future or unapproved expenditures, that the release, the petroleum storage tank, and the owner or operator are each eligible for reimbursement and that the expenditure or proposed expenditure would be of a type necessary in order to implement an approved corrective action plan or to pay eligible third-party damage claims.

(3) Application forms for guarantee of reimbursement are available upon request from the board.