Chapter 50. Guam Underground Storage Tank Regulations

§ 50812. [Reserved.] [Reserved.]

§ 50813. Trust Fund. (a) An owner or operator may satisfy the requirements of § 50804, Guam Administrative Rules and Regulations by establishing a trust fund that conforms to the requirements of this section. The trustee must be an entity that has the authority to act as a truste…

§ 50814. Standby Trust Fund. (a) An owner or operator using any one of the mechanisms authorized by §§ 50807, 50809, or 50810, Guam Administrative Rules and Regulations must establish a standby trust fund when the mechanism is acquired. The trustee of the standby trust fund must …

§ 50815. Local Government Bond Rating Test. (a) A general purpose local government owner or operator and/or local government serving as a guarantor may satisfy the requirements of § 50804, Guam Administrative Rules and Regulations by having a currently outstanding issue or issues…

§ 50816. Local Government Financial Test. (a) A local government owner or operator may satisfy the requirements of § 50804 by passing the financial test specified in this section. To be eligible to use the financial test, the local government owner or operator must have the abili…

§ 50817. Local Government Guarantee. (a) A local government owner or operator may satisfy the requirements of § 50804, by obtaining a guarantee that conforms to the requirements of this section. The guarantor must be a local government having a “substantial governmental relations…

§ 50818. Local Government Fund. (a) A local government owner or operator may satisfy the requirements of § 50804, Guam Administrative Rules and Regulations by establishing a dedicated fund account that conforms to the requirements of this section. Except as specified in paragraph…

§ 50819. Substitution of Financial Assurance Mechanisms by Owner or operator. (a) An owner or operator may substitute any alternate financial assurance mechanisms as specified in this subchapter, provided that at all times the owner or operator maintains an effective financial as…

§ 50820. Cancellation or Non-renewal by a Provider of Financial Assurance. (a) Except as otherwise provided, a provider of financial assurance may cancel or fail to renew an assurance mechanism by sending a notice of termination by certified mail to the owner or operator. (1) Ter…

§ 50821. Reporting by Owner or Operator. (a) An owner or operator must submit the appropriate forms listed in § 50822(b), Guam Administrative Rules and Regulations documenting current evidence of financial responsibility to the Administrator: (1) Within thirty days after the owne…

§ 50822. Record Keeping. (a) Owners or operators must maintain evidence of all financial assurance mechanisms used to demonstrate financial responsibility under this subchapter for an underground storage tank or tank system until released from the requirements of this Article und…

§ 50823. Drawing of Financial Assurance Mechanisms. (a) Except as specified in subsection (d), the Administrator shall require the guarantor, surety, or institution issuing a letter of credit to place the amount of funds stipulated by the Administrator, up to the limit of funds p…

§ 50824. Release from the Requirements. An owner or operator is no longer required to maintain financial responsibility under this subchapter for an underground storage tank or tank system after the tank or tank system has been permanently closed or undergoes a change-in-service …

§ 50825. Bankruptcy or Other Incapacity of Owner or Operator or Provider of Financial Assurance. (a) Within ten days after commencement of a voluntary or involuntary proceeding under Title 11 (Bankruptcy), U.S. Code, naming an owner or operator as debtor, the owner or operator mu…

§ 50826. Replenishment of Guarantee, Letters of Credit, or Surety Bond. (a) If at any time after a standby trust is funded upon the instruction of the Administrator with funds drawn from a 159 guarantee, local government guarantee with standby trust, letter of credit, or surety b…

§ 50827 to § 50899. [Reserved.] 88

§ 50901. Definitions. (a) UST technical standards, as used in this Article, refers to the UST preventative and operating requirements under Articles 2, 3, 4, 7, and 10 and § 50501, Guam Administrative Rules and Regulations. (b) Petroleum production, refining, and marketing. (1) “…

§ 50902. [Reserved.] [Reserved.]

§ 50903. [Reserved.] [Reserved.]

§ 50904. [Reserved.] [Reserved.]

§ 50905. [Reserved.] [Reserved.]

§ 50906. [Reserved.] [Reserved.]

§ 50907. [Reserved.] [Reserved.]

§ 50908. [Reserved.] [Reserved.]

§ 50909. [Reserved.] [Reserved.]

§ 50910. [Reserved.] [Reserved.]

§ 50911. Participation in Management. (a) The term “participating in the management of an UST or UST system” means that the holder is engaging in decision making control of, or activities related to, operation of the UST 163 or UST system, as defined in this section. Actions that…

§ 50912. [Reserved.] [Reserved.] 173

§ 50913. [Reserved.] [Reserved.]

§ 50914. [Reserved.] [Reserved.]

§ 50915. [Reserved.] [Reserved.]

§ 50916. [Reserved.] [Reserved.]

§ 50917. [Reserved.] [Reserved.]

§ 50918. [Reserved.] [Reserved.]

§ 50919. [Reserved.] [Reserved.]

§ 50920. [Reserved.] [Reserved.]

§ 50921. Ownership of an Underground Storage Tank or Underground Storage Tank System or Facility or Property on which an Underground Storage Tank or Underground Storage Tank System is Located. (a) Ownership of an UST or UST system or facility or property on which an UST or UST sy…

§ 50922. [Reserved.] [Reserved.]

§ 50923. [Reserved.] [Reserved.]

§ 50924. [Reserved.] [Reserved.]

§ 50925. [Reserved.] [Reserved.]

§ 50926. [Reserved.] [Reserved.]

§ 50927. [Reserved.] [Reserved.]

§ 50928. [Reserved.] [Reserved.]

§ 50929. [Reserved.] [Reserved.]

§ 50930. [Reserved.] [Reserved.] 175

§ 50931. Operating an Underground Storage Tank or Underground Storage Tank System. (a) Operating an UST or UST system prior to foreclosure. A holder, prior to foreclosure, as defined in § 50911(c), Guam Administrative Rules and Regulations, is not an “operator” of a petroleum UST…

§ 50932 to § 50940. [Reserved.] 160