Financial responsibility requirements definition

Financial responsibility requirements means the financial responsibility for taking corrective action and for compensating third parties for bodily injury and property damage caused by a release from a refined petroleum underground storage tank system that the owner or operator of a refined petroleum underground storage tank system must demonstrate under part 211 and the rules promulgated under that part.
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Financial responsibility requirements means the financial responsibility for taking corrective action and for compensating third parties for bodily injury and property damage caused by a release from an underground storage tank system that the owner or operator of an underground storage tank system must demonstrate under part 211 and the rules promulgated under that part.
Sample 1Sample 2Sample 3
Financial responsibility requirements means the financial responsibility for taking corrective action and for compensating third parties for bodily injury and property damage caused by a release from an underground storage tank system that the owner or operator of an underground storage tank system must demonstrate under the underground storage tank regulatory act, Act No. 423 of the Public Acts of 1984, being sections 299.701 to 299.712 of the Michigan Compiled Laws, and the rules promulgated under that act.
Sample 1

Examples of Financial responsibility requirements in a sentence

  • Financial responsibility requirements for tank wagons shall begin 1 year after February 1, 2009.

  • Financial responsibility requirements may provide an incentive for regulated entities to minimize future environmental obligations.

  • Financial responsibility requirements tend to prevent unscrupulous and/or financially unsound vessel or facility owners or operators from entering or operating in United States waters or the Outer Continental Shelf (OCS).

  • NR 666.910 Financial responsibility requirements for permanent collection facilities that store more than 80,000 pounds (36,364 kg.) of hazardous waste.

  • Financial responsibility requirements; certificates of authority.

  • Financial responsibility requirements thus make custody of the vessel largely irrelevant.

  • Financial responsibility requirements are de- signed to provide for minimum payment of judgments of the type described in this sec- tion.

  • Financial responsibility requirements are designed to provide for minimum payment of judgments of the type described in this section.

  • Financial responsibility requirements are to ensure that owners or operators have the financial resources to carry out activities related to closing and remediating geologic sequestration sites if needed so they do not endanger the environment or USDWs.

  • Financial responsibility requirements may be maintained through insurance, guarantee, surety bond, letter of credit, self‑insurance, risk retention group, or any other method satisfactory to the department.

Related to Financial responsibility requirements

  • Official responsibility means administrative or operating authority, whether intermediate or final, to initiate, approve, disapprove or otherwise affect a procurement transaction, or any claim resulting therefrom.

  • Authority Requirements means the operational requirements, functions and characteristics of the Framework set out in Schedule 1 (Statement of Requirements)