Section 176.215  Mechanisms of Financial Responsibility

Under Section 6.1 of the Gasoline Storage Act, only the following may be considered acceptable mechanisms for financial responsibility: 

a)         Commercial or private insurance, including risk retention groups;

b)         Self-insurance, if there is a tangible net worth of at least $200,000;

c)         Guarantee;

d)         Surety bond;

e)         Letter of credit;

f)         Certificate of deposit;

g)         Designated savings account; or

h)         Any combination of the mechanisms listed in this Section.

(Source:  Amended at 42 Ill. Reg. 10621, effective October 13, 2018)