NR 667.0147(6)(b)4.a.
a. The owner or operator substitutes alternate financial assurance as specified in this section that is not subject to these recordkeeping and reporting requirements.
NR 667.0147(6)(b)5.
5. An owner or operator who no longer meets the requirements of par.
(a) may not use the financial test to demonstrate financial assurance. An owner or operator who no longer meets the requirements of par.
(a) shall:
NR 667.0147(6)(b)5.a.
a. Send notice to the department of intent to establish alternate financial assurance as specified in this section. The owner or operator shall send this notice by certified mail within 90 days following the close of the owner or operator's fiscal year for which the year-end financial data show that the owner or operator no longer meets the requirements of this section.
NR 667.0147(6)(b)5.b.
b. Provide alternative financial assurance within 120 days after the end of such fiscal year.
NR 667.0147(6)(b)6.
6. The department may, based on a reasonable belief that the owner or operator may no longer meet the requirements of par.
(a), require at any time the owner or operator to provide reports of its financial condition in addition to or including current financial test documentation as specified in this paragraph. If the department finds that the owner or operator no longer meets the requirements of par.
(a), the owner or operator shall provide alternate financial assurance that meets the requirements of this section.
NR 667.0147(7)(a)(a) Subject to par.
(b) of this section, an owner or operator may meet the requirements of this section by obtaining a written guarantee, hereinafter referred to as guarantee. The guarantor shall be the direct or higher-tier parent corporation of the owner or operator, a firm whose parent corporation is also the parent corporation of the owner or operator or a firm with a substantial business relationship with the owner or operator. The guarantor shall meet the requirements for owners or operators in sub.
(6) (a) and
(b). The wording of the guarantee shall be identical to the wording specified in s.
NR 664.0151 (8) (b). A certified copy of the guarantee shall accompany the items sent to the department as specified in sub.
(6) (b). One of these items shall be the letter from the guarantor's chief financial officer. If the guarantor's parent corporation is also the parent corporation of the owner or operator, this letter shall describe the value received in consideration of the guarantee. If the guarantor is a firm with a “substantial business relationship” with the owner or operator, this letter shall describe this “substantial business relationship” and the value received in consideration of the guarantee. If the owner or operator fails to satisfy a judgment based on a determination of liability for bodily injury or property damage to third parties caused by sudden accidental occurrences arising from the operation guarantee or fails to pay an amount agreed to in settlement of claims arising from or alleged to arise from such injury or damage, the guarantor shall do so up to the limits of coverage.
NR 667.0147(7)(b)1.1. In the case of corporations incorporated in the United States, a guarantee may be used to satisfy the requirements of this section only if the Attorneys General or Insurance Commissioners of the state in which the guarantor is incorporated, and each state in which a facility covered by the guarantee is located, have submitted a written statement to the department that a guarantee executed as described in this section and s.
NR 664.0151 (8) (b) is a legally valid and enforceable obligation in that state.
NR 667.0147(7)(b)2.
2. In the case of corporations incorporated outside the United States, a guarantee may be used to satisfy the requirements of this section only if:
NR 667.0147(7)(b)2.a.
a. The non-U.S. corporation has identified a registered agent for service of process in each state in which a facility covered by the guarantee is located and in the state in which it has its principal place of business.
NR 667.0147(7)(b)2.b.
b. The Attorney General or Insurance Commissioner of each state in which a facility covered by the guarantee is located and the state in which the guarantor corporation has its principal place of business, has submitted a written statement to the department that a guarantee executed as described in this section and s.
NR 664.0151 (8) (b) is a legally valid and enforceable obligation in that state.
NR 667.0147 History
History: CR 16-007: cr.
Register July 2017 No. 739, eff. 8-1-17; correction in (6) (b) 1. a., c. made under s.
35.17, Stats., and correction in (6) (b) 4. b., (7) made under s.
13.92 (4) (b) 7, Stats.,
Register July 2017 No. 739; correction in (6) (b) 4. b. made under s.
13.92 (4) (b) 7., Stats.,
Register December 2018 No. 756;
CR 19-082: am. (6) (b) 4. b. Register August 2020 No. 776, eff. 9-1-20. NR 667.0148
NR 667.0148 Incapacity of owners or operators, guarantors or financial institutions. NR 667.0148(1)
(1) An owner or operator shall notify the department by certified mail of the commencement of a voluntary or involuntary proceeding under Title 11 of the United States Code, naming the owner or operator as debtor, within 10 days after commencement of the proceeding. A guarantor of a corporate guarantee as specified in ss.
NR 667.0143 (7) and
667.0147 (7) shall make such a notification if the guarantor is named as debtor, as required under the terms of the corporate guarantee (s.
NR 664.0151 (8)).
NR 667.0148(2)
(2) An owner or operator who fulfills the requirements of s.
NR 667.0143 or
667.0147 by obtaining a trust fund, surety bond, letter of credit or insurance policy shall be deemed to be without the required financial assurance or liability coverage in the event of bankruptcy of the trustee or issuing institution, or a suspension or revocation of the authority of the trustee institution to act as trustee or of the institution issuing the surety bond, letter of credit or insurance policy to issue the instruments. The owner or operator shall establish other financial assurance or liability coverage within 60 days after such an event.
NR 667.0148 History
History: CR 16-007: cr.
Register July 2017 No. 739, eff. 8-1-17.
NR 667.0151(1)(1)
The chief financial officer of an owner or operator of a facility with a standardized license who uses a financial test to demonstrate financial assurance for that facility shall complete a letter as specified in s.
NR 667.0143 (6). The letter shall be worded as follows, except that instructions in brackets are to be replaced with the relevant information and the brackets deleted:
I am the chief financial officer of [name and address of firm]. This letter is in support of this firm's use of the financial test to demonstrate financial assurance for closure costs, as specified in subch. H of ch. NR 667
, Wis. Adm. Code. This firm qualifies for the financial test on the basis of having [insert “a current rating for its senior unsecured debt of AAA, AA, A, or BBB as issued by Standard and Poor's or Aaa, Aa, A, or Baa as issued by Moody's Investors Services” or “a ratio of less than 1.50 comparing total liabilities to net worth” or “a ratio of greater than 0.10 comparing the sum of net income plus depreciation, depletion and amortization, minus $10 million, to total liabilities.”] This firm [insert “
is required” or “is not required”] to file a Form 10K with the Securities and Exchange Commission (SEC) for the latest fiscal year. The fiscal year of this firm ends on [month, day]. The figures for the following items marked with an asterisk are derived from this firm's independently audited, year-end financial statements for the latest completed fiscal year, ended [date]. [If this firm qualifies on the basis of its bond rating, fill in the requested information: “This firm has a rating of its senior unsecured debt of” [insert the bond rating] “from” [insert “Standard and Poor's” or “Moody's”]. Complete Line 1. Total Liabilities below and then skip the remaining questions in the next section and resume completing the form at the section entitled Obligations Covered by a Financial Test or Corporate Guarantee.] [If this firm qualifies for the financial test on the basis of its ratio of liabilities to net worth, or sum of income, depreciation, depletion and amortization to net worth, please complete the following section.]
- See PDF for table 
[If the above figures are taken directly from the most recent audited financial statements for this firm insert “The above figures are taken directly from the most recent audited financial statements for this firm.” If they are not, insert “The following items are not taken directly from the firms most recent audited financial statements” [insert the numbers of the items and attach an explanation of how they were derived.]
[If you did not answer Yes to either of these two questions, you cannot use the financial test and need not complete this letter. Instead, you shall notify the department for the facility that you intend to establish alternate financial assurance as specified in s.
NR 667.0143. The owner or operator shall send this notice by certified mail within 90 days following the close of the owner or operator's fiscal year for which the year-end financial data show that the owner or operator no longer meets the requirements of this section. The owner or operator shall also provide alternative financial assurance within 120 days after the end of such fiscal year.]
Obligations Covered by a Financial Test or Corporate Guarantee
[On the following lines list all obligations that are covered by a financial test or a corporate guarantee extended by your firm. You may add additional lines and leave blank entries that do not apply to your situation.]
-
See PDF for table
Any financial assurance required under, or as part of an action undertaken under, the Comprehensive Environmental Response, Compensation and Liability Act.
- See PDF for table
Any other environmental obligations that are assured through a financial test.
- See PDF for table
[You must be able to answer Yes to both of these questions to use the financial test for this facility.]
I hereby certify that the wording of this letter is identical to the wording specified in s.
NR 667.0151 as such rules were constituted on the date shown immediately below.
[Signature] _________________________
[Name] ____________________________
[Title] _____________________________
[Date] ____________________________
[After completion, send a signed copy of the form to the department. In addition, send a signed copy to every authority who (1) requires a demonstration through a financial test for each of the other obligations in the letter that are assured through a financial test, or (2) accepts a guarantee for an obligation listed in this letter.]
NR 667.0151(2)
(2) The chief financial officer of an owner or operator of a facility with a standardized license who uses a financial test to demonstrate financial assurance only for third party liability for that (or other standardized license) facility or facilities shall complete a letter as specified in s.
NR 667.0147 (6). The letter shall be worded as follows, except that instructions in brackets are to be replaced with the relevant information and the brackets deleted:
I am the chief financial officer of [name and address of firm]. This letter is in support of this firm's use of the financial test to demonstrate financial assurance for third party liability, as specified in [insert “subchapter H of 40 CFR part 267” or the citation to the corresponding state regulation]. This firm qualifies for the financial test on the basis of having tangible net worth of at least $10 million more than the amount of liability coverage and assets in the United States of at least the amount of liability coverage. This firm [insert “is required” or “is not required”] to file a Form 10K with the Securities and Exchange Commission (SEC) for the latest fiscal year. The fiscal year of this firm ends on [month, day]. The figures for the following items marked with an asterisk are derived from this firm's independently audited, year-end financial statements for the latest completed fiscal year, ended [date].
[You must be able to answer Yes to both of these questions to use the financial test for this facility.]
I hereby certify that the wording of this letter is identical to the wording specified in s.
NR 667.0151 as such rules were constituted on the date shown immediately below.
[Signature] _________________________
[Name] ____________________________
[Title] _____________________________
[Date] _____________________________
[After completion, send a signed copy of the form to the department.]
NR 667.0151 History
History: CR 16-007: cr.
Register July 2017 No. 739, eff. 8-1-17; correction in (2) made under s.
35.17, Stats.,
Register July 2017 No. 739.
NR 667.0170
NR 667.0170 Does this subchapter apply to me? This subchapter applies to you if you own or operate a facility that treats or stores hazardous waste in containers under a subch.
J of ch. NR 667 standardized license, except as provided in s.
NR 667.0001 (2).
NR 667.0170 History
History: CR 16-007: cr.
Register July 2017 No. 739, eff. 8-1-17; correction made under s.
35.17, Stats.,
Register July 2017 No. 739.
NR 667.0171
NR 667.0171 What standards apply to the containers? Standards apply to the condition of the containers, to the compatibility of waste with the containers and to the management of the containers.
NR 667.0171(1)
(1) Condition of containers. If a container holding hazardous waste is not in good condition (for example, it exhibits severe rusting or apparent structural defects) or if it begins to leak, you shall either:
NR 667.0171(1)(a)
(a) Transfer the hazardous waste from this container to a container that is in good condition.
NR 667.0171(1)(b)
(b) Manage the waste in some other way that complies with the requirements of this section.
NR 667.0171(2)
(2) Compatibility of waste with containers. To ensure that the ability of the container to contain the waste is not impaired, use a container made of or lined with materials that are compatible and will not react with the hazardous waste to be stored.
NR 667.0171(3)(a)
(a) Always keep a container holding hazardous waste closed during storage, except when you add or remove waste.
NR 667.0171(3)(b)
(b) Do not open, handle or store a container holding hazardous waste in a manner that may rupture the container or cause it to leak.
NR 667.0171 History
History: CR 16-007: cr.
Register July 2017 No. 739, eff. 8-1-17.
NR 667.0172
NR 667.0172 What are the inspection requirements? At least weekly, inspect areas where you store containers, looking for leaking containers and for deterioration of containers and the containment system caused by corrosion or other factors.
NR 667.0172 History
History: CR 16-007: cr.
Register July 2017 No. 739, eff. 8-1-17.
NR 667.0173
NR 667.0173 What standards apply to the container storage areas? NR 667.0173(1)(1)
Design and operate a containment system for your container storage areas according to the requirements in sub.
(2), except as otherwise provided by sub.
(3) NR 667.0173(2)
(2) The design and operating requirements for a containment system are:
NR 667.0173(2)(a)
(a) A base shall underlie the containers that is free of cracks or gaps and is sufficiently impervious to contain leaks, spills and accumulated precipitation until the collected material is detected and removed.
NR 667.0173(2)(b)
(b) The base shall be sloped, or the containment system shall be otherwise designed and operated to drain and remove liquids resulting from leaks spills, or precipitation, unless the containers are elevated or are otherwise protected from contact with accumulated liquids.
NR 667.0173(2)(c)
(c) The containment system shall have sufficient capacity to contain 10% of the volume of containers, or the volume of the largest container, whichever is greater. This requirement does not apply to containers that do not contain free liquids.
NR 667.0173(2)(d)
(d) Prevent run-on into the containment system unless the collection system has sufficient excess capacity, in addition to that required in par.
(c), to contain the liquid.
NR 667.0173(2)(e)
(e) Remove any spilled or leaked waste and accumulated precipitation from the sump or collection area as promptly as is necessary to prevent overflow of the collection system.
NR 667.0173(3)
(3) Except as provided in sub.
(4), you do not need a containment system as defined in sub.
(2) for storage areas that store containers holding only wastes with no free liquids, if either:
NR 667.0173(3)(a)
(a) The storage area is sloped or is otherwise designed and operated to drain and remove liquid resulting from precipitation.
NR 667.0173(3)(b)
(b) The containers are elevated or are otherwise protected from contact with accumulated liquid.
NR 667.0173(4)
(4) You shall have a containment system defined by sub.
(2) for storage areas that store containers holding FO20, FO21, FO22, FO23, FO26, and FO27 wastes, even if the wastes do not contain free liquids.
NR 667.0173 History
History: CR 16-007: cr.
Register July 2017 No. 739, eff. 8-1-17.
NR 667.0174
NR 667.0174 What special requirements shall I meet for ignitable or reactive waste? Locate containers holding ignitable or reactive waste at least 15 meters (50 feet) from your facility property line. Follow the general requirements for ignitable or reactive wastes that are specified in s.
NR 667.0017 (1).
NR 667.0174 History
History: CR 16-007: cr.
Register July 2017 No. 739, eff. 8-1-17.
NR 667.0175
NR 667.0175 What special requirements shall I meet for incompatible wastes? NR 667.0175(2)
(2) You may not place hazardous waste in an unwashed container that previously held an incompatible waste or material.
NR 667.0175(3)
(3) Separate a storage container holding a hazardous waste that is incompatible with any waste or with other materials stored nearby in other containers, piles, open tanks or surface impoundments from the other materials, or protect the containers by means of a dike, berm, wall or other device.
NR 667.0175 History
History: CR 16-007: cr.
Register July 2017 No. 739, eff. 8-1-17; correction in (1) made under s.
35.17, Stats.,
Register July 2017 No. 739.
NR 667.0176
NR 667.0176 What shall I do when I want to stop using the containers? Remove all hazardous waste and hazardous waste residues from the containment system. Decontaminate or remove remaining containers, liners, bases, and soil containing, or contaminated with, hazardous waste, or hazardous waste residues.
NR 667.0176 History
History: CR 16-007: cr.
Register July 2017 No. 739, eff. 8-1-17.
NR 667.0177
NR 667.0177 What air emission standards apply? Manage all hazardous waste placed in a container according to the requirements of subchs.
AA,
BB, and
CC of ch. NR 664. Under a standardized license, the following control devices are permissible: Thermal vapor incinerator, catalytic vapor incinerator, flame, boiler, process heater, condenser and carbon absorption unit.
NR 667.0177 History
History: CR 16-007: cr.
Register July 2017 No. 739, eff. 8-1-17.
NR 667.0190
NR 667.0190 Does this subchapter apply to me? This subchapter applies to you if you own or operate a facility that treats or stores hazardous waste in above-ground or on-ground tanks under a subch.
J of ch. NR 667 standardized license, except as provided in s.
NR 667.0001 (2).
NR 667.0190(1)
(1) You do not have to meet the secondary containment requirements in s.
NR 667.0195 if your tank systems do not contain free liquids and are situated inside a building with an impermeable floor. You shall demonstrate the absence or presence of free liquids in the stored or treated waste, using Method 9095B (Paint Filter Liquids Test) as described in “Test Methods for Evaluating Solid Waste, Physical/Chemical Methods,” EPA Publication SW–846, as incorporated by reference in s.
NR 660.11.
NR 667.0190(2)
(2) You do not have to meet the secondary containment requirements of s.
NR 667.0195 (1) if your tank system, including sumps, as defined in s.
NR 660.10, is part of a secondary containment system to collect or contain releases of hazardous wastes.
NR 667.0190 History
History: CR 16-007: cr.
Register July 2017 No. 739, eff. 8-1-17; corrections in (intro.) made under ss.
13.92 (4) (b) 7., and
35.17, Stats.,
Register July 2017 No. 739.
