§ 6611 - Financial responsibility - Vermont Statutes

§ 6611. Financial responsibility

(a) Any person who operates a facility approved under this chapter shall provide evidence of an escrow account or other form of financial responsibility in such form and amount as the secretary may determine to insure that, upon abandonment, cessation, or interruption of the operation of the facility, adequate funds are available to undertake all appropriate measures to prevent present and future damage to the public health and safety and to the environment. Any such financial plan shall include provisions for the equitable distribution of any excess in the escrow account, or other financial security, to communities whose residents made substantial payments into the escrow account or for that security.

(b) A solid waste management district, by contract, may require that a facility owner or operator that serves the district, establish an escrow account in a reasonable amount in order to provide funds for timely compliance with the provisions of this chapter. Expenditures from the escrow account shall be for those capital improvements required to be made by the owner by the certification, interim certification or order issued or otherwise required in accordance with this chapter.

(c) A facility owner or operator, upon an initial showing of financial responsibility, shall report to the secretary with respect to funds set aside by that date for those purposes. (Added 1977, No. 106, § 1; amended 1987, No. 78, § 14; 1987, No. 246 (Adj. Sess.), § 5a, eff. June 13, 1988; 1989, No. 61, § 2, eff. May 22, 1989.)