NR 661.0143(5)(f)(f) If the owner or operator no longer meets the requirements specified in par. (a), the owner or operator shall send notice to the department of intent to establish alternate financial assurance as specified in this section. The notice shall be sent by certified mail within 90 days after the end of the fiscal year for which the year-end financial data show that the owner or operator no longer meets the requirements. The owner or operator shall provide the alternate financial assurance within 120 days after the end of such fiscal year.

NR 661.0143(5)(g)(g) The department may, based on a reasonable belief that the owner or operator may no longer meet the requirements specified in par. (a), require reports of financial condition at any time from the owner or operator in addition to those specified in par. (c). If the department finds, on the basis of such reports or other information, that the owner or operator no longer meets the requirements specified in par. (a), the owner or operator shall provide alternate financial assurance as specified in this section within 30 days after notification of such a finding.

NR 661.0143(5)(h)(h) The department may disallow use of this test on the basis of qualifications in the opinion expressed by the independent certified public accountant in the independent certified public accountant’s report on examination of the owner’s or operator’s financial statements described in par. (c) 2. An adverse opinion or a disclaimer of opinion will be cause for disallowance. The department will evaluate other qualifications on an individual basis. The owner or operator shall provide alternate financial assurance as specified in this section within 30 days after notification of the disallowance.

NR 661.0143(5)(i)(i) The owner or operator is no longer required to submit the items specified in par. (c) when any one of the following occurs:

NR 661.0143(5)(j)(j) An owner or operator may meet the requirements of this section by obtaining a written 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 pars. (a) to (h) and shall comply with the terms of the guarantee. The wording of the guarantee shall be identical to the wording specified in s. NR 661.0151 (7) (a). A certified copy of the guarantee shall accompany the items sent to the department as specified in par. (c). 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, the 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. The terms of the guarantee shall provide all of the following:

NR 661.0143(5)(j)1.1. Following a determination by the department that the hazardous secondary material at the owner or operator’s facility covered by this guarantee do not meet the conditions of the exclusion under s. NR 661.0004 (1) (x), the guarantor will dispose of any hazardous secondary material as hazardous waste and close the facility in accordance with closure requirements under ch. NR 664 or 665, as applicable, or establish a trust fund as specified in sub. (1) in the name of the owner or operator in the amount of the current cost estimate.

NR 661.0143(5)(j)2.2. The corporate guarantee will remain in force unless the guarantor sends notice of cancellation by certified mail to the owner or operator and to the department. Cancellation may not occur, however, during the 120 days beginning on the date of receipt of the notice of cancellation by both the owner or operator and the department, as evidenced by the return receipts.

NR 661.0143(5)(j)3.3. If the owner or operator fails to provide alternate financial assurance as specified in this section and obtain the written approval of such alternate assurance from the department within 90 days after receipt by both the owner or operator and the department of a notice of cancellation of the corporate guarantee from the guarantor, the guarantor will provide such alternate financial assurance in the name of the owner or operator.

NR 661.0143(6)(6) Use of multiple financial mechanisms. An owner or operator may satisfy the requirements of this section by establishing more than one financial mechanism per facility. These mechanisms are limited to trust funds, surety bonds, letters of credit, and insurance. The mechanisms shall be as specified in subs. (1) to (4), except that it is the combination of mechanisms, rather than the single mechanism, that shall provide financial assurance for an amount at least equal to the current cost estimate. If an owner or operator uses a trust fund in combination with a surety bond or a letter of credit, the owner or operator may use the trust fund as the standby trust fund for the other mechanisms. A single standby trust fund may be established for 2 or more mechanisms. The department may use any or all of the mechanisms to provide for the facility.

NR 661.0143(7)(7) Use of financial mechanism for multiple facilities. An owner or operator may use a financial assurance mechanism specified in this section to meet the requirements of this section for more than one facility. Evidence of financial assurance submitted to the department shall include a list showing, for each facility, the EPA Identification Number, if any issued, name, address, and the amount of funds assured by the mechanism. The amount of funds available through the mechanism shall be no less than the sum of funds that would be available if a separate mechanism had been established and maintained for each facility. In directing funds available through the mechanism for any of the facilities covered by the mechanism, the department may direct only the amount of funds designated for that facility, unless the owner or operator agrees to the use of additional funds available under the mechanism.

NR 661.0143(8)(a)(a) An owner or operator of a reclamation facility or an intermediate facility who wishes to be released from their financial assurance obligations under s. NR 661.0004 (1) (x) 6. f. shall submit a plan for removing all hazardous secondary material residues to the department at least 180 days prior to the date on which the owner or operator expects to cease to operate under the exclusion.

NR 661.0143(8)(b)(b) The plan shall include all of the following:

NR 661.0143(8)(b)1.1. For each hazardous secondary material storage unit subject to financial assurance requirements under s. NR 661.0004 (1) (x) 6. f., a description of how all excluded hazardous secondary material will be recycled or sent for recycling, and how all residues, contaminated containment systems, contaminated soils, subsoils, structures, and equipment will be removed or decontaminated as necessary to protect human health and the environment.

NR 661.0143(8)(b)2.2. A detailed description of the steps necessary to remove or decontaminate all hazardous secondary material residues and contaminated containment system components, equipment, structures, and soils including procedures for cleaning equipment and removing contaminated soils, methods for sampling and testing surrounding soils, and criteria for determining the extent of decontamination necessary to protect human health and the environment.

NR 661.0143(8)(b)4.4. A schedule for conducting the activities described that, at a minimum, includes the total time required to remove all excluded hazardous secondary material for recycling and decontaminate all units subject to financial assurance under s. NR 661.0004 (1) (x) 6. f. and the time required for intervening activities that will allow tracking of the progress of decontamination.

NR 661.0143(8)(c)(c) The department will provide the owner or operator and the public, through a newspaper notice, the opportunity to submit written comments on the plan and request modifications to the plan no later than 30 days from the date of the notice. The department will also, in response to a request or at the department’s discretion, hold a public hearing whenever such a hearing might clarify one or more issues concerning the plan. The department will give public notice of the hearing at least 30 days before it occurs. Public notice of the hearing may be given at the same time as notice of the opportunity for the public to submit written comments, and the 2 notices may be combined. The department will approve, modify, or disapprove the plan within 90 days of its receipt. If the department does not approve the plan, the department shall provide the owner or operator with a detailed written statement of reasons for the refusal and the owner or operator shall modify the plan or submit a new plan for approval within 30 days after receiving such written statement. The department will approve or modify this plan in writing within 60 days. If the department modifies the plan, this modified plan becomes the approved plan. The department shall assure that the approved plan is consistent with this subsection. A copy of the modified plan with a detailed statement of reasons for the modifications shall be mailed to the owner or operator.

NR 661.0143(8)(d)(d) Within 60 days of completion of the activities described for each hazardous secondary material management unit, the owner or operator shall submit to the department, by registered mail, a certification that all hazardous secondary material have been removed from the unit and the unit has been decontaminated in accordance with the specifications in the approved plan. The certification shall be signed by the owner or operator and by a qualified professional engineer. Documentation supporting the professional engineer’s certification shall be furnished to the department, upon request, until the department releases the owner or operator from the financial assurance requirements under s. NR 661.0004 (1) (x) 6. f.

NR 661.0143(9)(9) Release of the owner or operator from the requirements of this section. Within 60 days after receiving certifications from the owner or operator and a qualified professional engineer that all hazardous secondary material have been removed from the facility or a unit at the facility and the facility or a unit has been decontaminated in accordance with the approved plan under sub. (8), the department will notify the owner or operator in writing that the owner or operator is no longer required under s. NR 661.0004 (1) (x) 6. f. to maintain financial assurance for that facility or a unit at the facility, unless the department has reason to believe that all hazardous secondary material have not been removed from the facility or unit at a facility or that the facility or unit has not been decontaminated in accordance with the approved plan. The department shall provide the owner or operator a detailed written statement of any such reason to believe that all hazardous secondary material have not been removed from the unit or that the unit has not been decontaminated in accordance with the approved plan.

NR 661.0147(1)(1) Coverage for sudden accidental occurences. An owner or operator of a hazardous secondary material reclamation facility or an intermediate facility subject to financial assurance requirements under s. NR 661.0004 (1) (x) 6. f., or a group of such facilities, shall demonstrate financial responsibility for bodily injury and property damage to third parties caused by sudden accidental occurrences arising from operations of the facility or group of facilities. The owner or operator shall have and maintain liability coverage for sudden accidental occurrences in the amount of at least $1 million per occurrence with an annual aggregate of at least $2 million, exclusive of legal defense costs. This liability coverage may be demonstrated as follows:

NR 661.0147(1)(a)(a) An owner or operator may demonstrate the required liability coverage by having liability insurance. The liability insurance shall meet all of the following conditions:

NR 661.0147(1)(a)1.1. Each insurance policy shall be amended by attachment of the hazardous secondary material facility liability endorsement, or evidenced by a certificate of liability insurance. The wording of the endorsement shall be identical to the wording specified in s. NR 661.0151 (8). The wording of the certificate of insurance shall be identical to the wording specified in s. NR 661.0151 (9). The owner or operator shall submit a signed duplicate original of the endorsement or the certificate of insurance to the department. If requested by the department, the owner or operator shall provide a signed duplicate original of the insurance policy.