NAC444.6859. Financial assurance: General requirements for all mechanisms.

     1. An entity providing the mechanism used to demonstrate financial assurance pursuant to NAC 444.685 shall reimburse or make payments to the owner, operator or any other person designated by the solid waste management authority, from that mechanism, for expenses in such amounts as the solid waste management authority shall direct in writing.

     2. Any such mechanism must:

     (a) Ensure that the amount of money assured is sufficient to cover the costs of closure, postclosure or corrective action for known releases of contaminants, when needed;

     (b) Ensure that money will be available in a timely fashion, when needed; and

     (c) Be legally valid, binding and enforceable under applicable state and federal law.

     (Added to NAC by Environmental Comm’n, 11-8-93; eff. 4-9-95)