ABSTRACT
Financial Assurance (40 CFR 280.110)........................................................ 159
8.15 Replenishment of Guarantees, Letters of Credit, or Surety Bonds (40 CFR 280.111)......................................................................................... 160
8.16 Suspension of Enforcement (40 CFR 280.112)........................................... 160 8.17 Conclusion.................................................................................................... 160 APPENDIX Federal Regulations for the Leaking Underground Storage Tank Trust Fund, Release Reporting, and Corrective Action....................................... 164
Based on the authority established by the Hazardous and Solid Waste Act (HSWA) of 1984 and the Superfund Amendments and Reauthorization Act (SARA) of 1986, EPA published regulations on October 26, 1988 requiring owners or operators of USTs containing petroleum to demonstrate evidence of financial responsibility. The financial responsibility is required to cover the costs of corrective action and third-party compensation (including bodily injury or property damage) from sudden and nonsudden releases caused by the operation of USTs. The regulations for USTs containing petroleum are con tained in the United States Code of Federal Regulations in Title 40, Part 280 (40 CFR 280).
