Implementation of financial assurance for closure and postclosure

1. The closure plan and postclosure plan required by this article must specify the financial assurance mechanisms required by this chapter and, if a trust fund, surety bond, or insurance, the methods and schedules for funding the mechanisms. 2. During the active life of the facility, the owner or operator shall adjust the closure cost estimate and postclosure cost estimate for inflation and shall submit the following information to the department no later than August thirty-first of each year: a. Updated inflation adjusted closure cost estimate and postclosure cost estimate; b. A summary of financial assurance in place; c. The submittal date of the most recent detailed cost estimates for closure and postclosure; d. The maximum allowed open area and quantities; e. Current estimated open area and quantities; and f. The mechanisms in use.