ATCP 93.710(5)(5) If an owner or operator using the test to provide financial assurance finds that he or she no longer meets the requirements of the financial test based on the year-end financial statements, the owner or operator shall obtain alternative coverage within 150 days of the end of the year for which financial statements have been prepared. ATCP 93.710(6)(6) The department may require reports of financial condition at any time from the owner or operator, or guarantor, or both. If the department finds, on the basis of such reports or other information, that the owner or operator, or guarantor, or both, no longer meet the financial test requirements of either sub. (2) or (3) and sub. (4), the owner or operator shall obtain alternate coverage within 30 days after notification of such a finding. ATCP 93.710(7)(7) If the owner or operator fails to obtain alternate assurance within 150 days of finding that he or she no longer meets the requirements of the financial test based on the year-end financial statements, or within 30 days of notification by the department that he or she no longer meets the requirements of the financial test, the owner or operator shall notify the department of such failure within 10 days. ATCP 93.710 HistoryHistory: CR 17-092: cr. Register October 2019 No. 766, eff. 11-1-19; correction in (7) made under s. 35.17, Stats., Register October 2019 No. 766. ATCP 93.713(1)(1) To use a guarantee to meet the financial responsibility requirements of s. ATCP 93.705, an owner or operator shall obtain a guarantee that conforms to the requirements of this section. The guarantor shall be a firm that is engaged in a substantial business relationship with the owner or operator and issues the guarantee as an act incident to that business relationship or the guarantor shall be a firm that meets at least one of the following requirements: ATCP 93.713(1)(a)(a) The firm possesses a controlling interest in the owner or operator. ATCP 93.713(1)(c)(c) The firm is controlled through stock ownership by a common parent firm that possesses a controlling interest in the owner or operator. ATCP 93.713(2)(a)(a) Within 120 days of the close of each financial reporting year, the guarantor shall demonstrate that it meets the financial test criteria of s. ATCP 93.710 based on year-end financial statements for the latest completed financial reporting year by completing the letter from the chief financial officer described in s. ATCP 93.710 (4), and the guarantor shall deliver the letter to the owner or operator. ATCP 93.713(2)(b)(b) If the guarantor fails to meet the requirements of the financial test at the end of any financial reporting year, within 120 days of the end of that financial reporting year, the guarantor shall send notice by certified mail to the owner or operator before cancellation or non-renewal of the guarantee. ATCP 93.713(2)(c)(c) If the department notifies the guarantor that he or she no longer meets the requirements of the financial test of s. ATCP 93.710 (2) or (3), the guarantor shall notify the owner or operator within 10 days of receiving such notification from the department. ATCP 93.713(2)(d)(d) Under either par. (b) or (c), the guarantee shall terminate no less than 120 days after the date the owner or operator receives the notification as evidenced by the return receipt. ATCP 93.713(3)(a)(a) The instructions in brackets in the guarantee shall be replaced by the relevant information and the brackets deleted. ATCP 93.713(3)(b)(b) If financial responsibility for aboveground tanks within the scope of this subchapter is demonstrated using this method, all of the following changes shall be made: ATCP 93.713(3)(b)1.1. Reference in the guarantee to underground tanks shall be amended to refer to aboveground tanks. ATCP 93.713(4)(a)(a) An owner or operator who uses a guarantee to satisfy the requirements of s. ATCP 93.705 shall establish a standby trust fund when the guarantee is obtained. ATCP 93.713(4)(b)(b) Under the terms of the guarantee, all amounts paid by the guarantor under the guarantee shall be deposited directly into the standby trust fund in accordance with instructions from the department under s. ATCP 93.747. ATCP 93.713 HistoryHistory: CR 17-092: cr. Register October 2019 No. 766, eff. 11-1-19. ATCP 93.715ATCP 93.715 Insurance and risk retention group coverage.