Ownership of an underground storage tank or underground storage tank system or facility or property on which an underground storage tank or underground storage

tank system is located (lender liability). A holder is not an "owner" of a petroleum underground storage tank or underground storage tank system or facility or property on which a petroleum underground storage tank or underground storage tank system is located for purposes of compliance with the underground storage tank technical standards as defined in subsection 1, the underground storage tank corrective action requirements under sections 33.1-24-08-41 through 33.1-24-08-57, and the underground storage tank financial responsibility requirements under sections 33.1-24-08-80 through 33.1-24-08-101, provided the person: 1. Does not participate in the management of the underground storage tank or underground storage tank system as defined in section 33.1-24-08-120; and 2. Does not engage in petroleum production, refining, and marketing as defined in section 33.1-24-08-115.