Use of Multiple Surety Instruments

Section 900 Section 900.707  Use of Multiple Surety Instruments a)         The lagoon owner may use any combination of the surety instruments listed in Section 17 of the Livestock Management Facilities Act [510 ILCS 77/17] and this Subpart to evidence the required level of financial responsibility. b)         A lagoon owner is not limited to maintaining financial responsibility with the original surety instrument or combination of instruments.  The owner must notify the Department before making any change in surety instruments. c)         If a lagoon owner makes any change in surety instruments, the lagoon owner must maintain the total financial responsibility for the lagoon at a level not less (without counting the amounts to be released) than the level of surety. d)         A replacement surety instrument or instruments must provide evidence of financial responsibility for a period at least equal to the existing instrument or instruments.  This provision does not relieve an owner of the obligation under Section 900.702(b) of this Part to provide proof at least two years prior to expiration of a surety instrument that the term for which financial responsibility has been demonstrated has been extended for at least an additional year.