[Code of Federal Regulations]
[Title 40, Volume 20]
[Revised as of July 1, 2003]
From the U.S. Government Printing Office via GPO Access
[CITE: 40CFR144.64]

[Page 669]
 
                   TITLE 40--PROTECTION OF ENVIRONMENT
 
         CHAPTER I--ENVIRONMENTAL PROTECTION AGENCY (CONTINUED)
 
PART 144_UNDERGROUND INJECTION CONTROL PROGRAM--Table of Contents
 
 Subpart F_Financial Responsibility: Class I Hazardous Waste Injection 
                                  Wells
 
Sec.  144.64  Incapacity of owners or operators, guarantors, or financial institutions.

    (a) An owner or operator must notify the Regional Administrator by 
certified mail of the commencement of a voluntary or involuntary 
proceeding under title 11 (Bankruptcy), U.S. Code, naming the owner or 
operator as debtor, within 10 business days after the commencement of 
the proceeding. A guarantor of a corporate guarantee as specified in 
Sec.  144.63(f) must make such a notification if he is named as debtor, 
as required under the terms of the guarantee (Sec.  144.70(f)).
    (b) An owner or operator who fulfills the requirements of Sec.  
144.63 by obtaining a letter of credit, surety bond, or insurance policy 
will be deemed to be without the required financial assurance or 
liability coverage in the event of bankruptcy, insolvency, or a 
suspension or revocation of the license or charter of the issuing 
institution. The owner or operator must establish other financial 
assurance or liability coverage within 60 days after such an event.