Recordkeeping

1. Owners or operators must maintain evidence of all financial assurance mechanisms used to demonstrate financial responsibility under sections 33.1-24-08-80 through 33.1-24-08-106 for an underground storage tank until released from the requirements of sections 33.1-24-08-80 through 33.1-24-08-106 under section 33.1-24-08-103. An owner or operator must maintain such evidence at the underground storage tank site or the owner's or operator's place of business. Records maintained offsite must be made available upon request of the department. 2. An owner or operator must maintain the following types of evidence of financial responsibility: a. An owner or operator using an assurance mechanism specified in sections 33.1-24-08-85 through 33.1-24-08-90, or section 33.1-24-08-92, or sections 33.1-24-08-94 through 33.1-24-08-97, must maintain a copy of the instrument worded as specified; b. An owner or operator using a financial test or guarantee, or a local government financial test, or a local government guarantee supported by a local government financial test, must maintain a copy of the chief financial officer's letter based on year-end financial statements for the most recent completed financial reporting year. Such evidence must be on file no later than one hundred twenty days after the close of the financial reporting year; c. An owner or operator using a guarantee, surety bond, or letter of credit must maintain a copy of the signed standby trust fund agreement and copies of any amendments to the agreement; d. A local government owner or operator using a local government guarantee under subsection 4 of section 33.1-24-08-96 must maintain a copy of the signed standby trust fund agreement and copies of any amendments to the agreement; e. A local government owner or operator using the local government bond rating test under section 33.1-24-08-94 must maintain a copy of its bond rating published within the last twelve months by Moody's or Standard and Poor's; f. A local government owner or operator using the local government guarantee under section 33.1-24-08-96, where the guarantor's demonstration of financial responsibility relies on the bond rating test under section 33.1-24-08-94 must maintain a copy of the guarantor's bond rating published within the last twelve months by Moody's or Standard and Poor's; g. An owner or operator using an insurance policy or risk retention group coverage must maintain a copy of the signed insurance policy or risk retention group coverage policy, with the endorsement or certificate of insurance and any amendments to the agreements; h. An owner or operator covered by a state fund or other state assurance must maintain on file a copy of any evidence of coverage supplied by or required by the state under subsection 4 of section 33.1-24-08-91; i. An owner or operator using a local government fund under section 33.1-24-08-97 must maintain the following documents: (1) A copy of the state constitutional provision or local government statute, charter, ordinance or order dedicating the fund; (2) Year-end financial statements for the most recent completed financial reporting year showing the amount in the fund. If the fund is established under subsection 3 of section 33.1-24-08-97 using incremental funding backed by bonding authority, the financial statements must show the previous year's balance, the amount of funding during the year, and the closing balance in the fund; and (3) If the fund is established under subsection 3 of section 33.1-24-08-97 using incremental funding backed by bonding authority, the owner or operator must also maintain documentation of the required bonding authority, including either the results of a voter referendum, under subdivision a of subsection 3 of section 33.1-24-08-97, or attestation by the state attorney general as specified under subdivision b of subsection 3 of section 33.1-24-08-97; j. A local government owner or operator using the local government guarantee supported by the local government fund must maintain a copy of the guarantor's year-end financial statements for the most recent completed financial reporting year showing the amount of the fund; or k. An owner or operator using an assurance mechanism specified in sections 33.1-24-08-85 through 33.1-24-08-97 must maintain an updated copy of a certification of financial responsibility worded as follows, except that instructions in brackets are to be replaced with the relevant information and the brackets deleted: Certification of Financial Responsibility [Owner or operator] hereby certifies that it is in compliance with the requirements of sections 33.1-24-08-80 through 33.1-24-08-106. The financial assurance mechanism(s) used to demonstrate financial responsibility under sections 33.1-24-08-80 through 33.1-24-08-106 is [are] as follows: [For each mechanism, list the type of mechanism, name of issuer, mechanism number (if applicable), amount of coverage, effective period of coverage, and whether the mechanism covers "taking corrective action" and/or "compensating third parties for bodily injury and property damage caused by" either "sudden accidental releases" or "nonsudden accidental releases" or "accidental releases".] [Signature of owner or operator] [Name of owner or operator] [Title] [Date] [Signature of witness or notary] [Name of witness or notary] [Date] The owner or operator must update this certification whenever the financial assurance mechanism(s) used to demonstrate financial responsibility change(s).