15A NCAC 02O .0308. INSURANCE POOLS

(a)  Insurance Pools established by owners and operators may be used alone or in combination to demonstrate financial assurance in accordance with Rules .0204 and .0301 of this Subchapter.

(b)  To be an eligible mechanism, Insurance Pools must comply with the requirements of G.S. 143‑215.94I and any other requirements imposed by the Commissioner of Insurance of the State of North Carolina and any relevant law, rule, or regulation.

(c)  Each owner and operator provided financial assurance through an Insurance Pool must maintain a certificate of insurance issued by the Insurance Pool listing, at least:

(1)           the name and address of the member;

(2)           the location of the facilities owned by that member where underground storage tanks are being insured by the pool;

(3)           the number of insured underground storage tanks at each facility;

(4)           the capacity of each insured underground storage tank;

(5)           the amount of insurance provided for each underground storage tank; and

(6)           the name, address, and signature of the Administrator of the Insurance Pool.

 

History Note:        Authority G.S. 143‑215.94H; 143‑215.94I;

Eff. July 1, 1992.