Section 845.920  Release of Financial Institution and Owner or Operator

a)         The Agency must release a trustee, surety, or other financial institution when:

1)         An owner or operator substitutes alternative financial assurance such that the total financial assurance for the CCR surface impoundment is equal to or greater than the current cost estimate, without counting the amounts to be released; or

2)         The Agency releases the owner or operator from the requirements of this Subpart under subsection (b).

b)         The Agency must release an owner or operator of a CCR surface impoundment from the requirements of this Subpart under the following circumstances:

1)         Completed Closure.  In the Agency's approval of the closure report and certification under Section 845.760, the Agency must notify the owner or operator in writing that it is no longer required by this Subpart to maintain financial assurance for closure of the CCR surface impoundment.

2)         Completed Post-Closure Care.  In the Agency's approval of the owner's or operator's request to terminate post-closure care under Section 845.780, the Agency must notify the owner or operator in writing that it is no longer required by this Subpart to maintain financial assurance for post-closure care of the CCR surface impoundment.

3)         Completed Corrective Action.  In the Agency's approval of the corrective action completion report and certification under Section 845.680, the Agency must notify the owner or operator in writing that it is no longer required by this Subpart to maintain financial assurance for corrective action.