Okla. Stat. tit. 27A, § 27A-2-7-116

Financial responsibility - Operation of facility - Insolvency -

Liability of guarantors.

A. Except for emergency permits issued in accordance with

Section 2-7-113.1 of this title, no permit shall be issued except

upon proper application, proof of sufficient liability insurance and

financial responsibility, formal public meeting, if requested, and

such other requirements as provided by the Oklahoma Hazardous Waste

Management Act and the Environmental Quality Code.

B. Liability insurance shall be provided by the applicant and

shall apply to sudden and nonsudden bodily injury or property damage

on, below or above the surface, as required by the rules of the

Board. Additional insurance shall be required as deemed necessary

by the Department to protect the property rights of owners or

leaseholders of underground resources such as oil, gas, water or

Oklahoma Statutes - Title 27A. Environment and Natural Resources Page 181

other mineral substances. Such insurance shall be maintained for

the period of operation of the facility and shall provide coverage

for damages resulting from operation of the facility during

operation and after closing. In lieu of liability insurance

required by this or any other section of the Oklahoma Hazardous

Waste Management Act, an equivalent amount of cash, securities or

alternate financial assurance of a type and in an amount acceptable

to the Department, may be substituted; provided, that such deposit

shall be maintained for a period of five (5) years after the date of

last operation of the facility.

C. Prior to the issuance of any permit, the applicant shall

post a bond or acceptable alternate financial assurance guaranteeing

proper closure and guaranteeing the performance of the maintenance

and monitoring functions set out in Section 2-7-124 of this title.

D. The Department shall require additional insurance and

security by the permittee upon an application for expansion of the

facility. Such increase in insurance and security shall be in a

sufficient amount to provide adequate coverage for damages resulting

from such expansion during operation of the facility and after

closing.

E. Prior to the issuance of any permit, the applicant shall,

upon request of the Department, produce evidence of the applicant's

financial status indicating that the applicant is financially able

to operate and maintain a hazardous waste facility as required by

the Oklahoma Hazardous Waste Management Act. If the applicant is

not financially able to operate and maintain a hazardous waste

facility, as required by the Oklahoma Hazardous Waste Management

Act, a permit shall be denied.

F. The operation of a hazardous waste facility shall be under

the supervision of a person meeting qualifications set by the Board

appropriate to the type of facility.

G. The Department is authorized and shall require the

construction of monitoring wells, pond liners, fencing, signs or

other equipment deemed necessary by the Department to ensure the

suitable operation of the facility.

H. Hazardous waste undergoing analysis to determine if it is

acceptable for disposal that is temporarily staged within the

confines of a permitted hazardous waste unit in a manner that will

prevent the waste, or any constituent thereof, from entering the

environment during such temporary staging shall not constitute

disposal of the hazardous waste.

I. 1. In any case where the owner or operator of a hazardous

waste facility is in bankruptcy, reorganization, or arrangement

pursuant to the Federal Bankruptcy Code or if jurisdiction in any

state court or any federal court cannot be obtained over an owner or

operator likely to be solvent at the time of judgment, any claim

arising from conduct for which evidence of financial responsibility

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is required pursuant to the Oklahoma Hazardous Waste Management Act
e Federal Bankruptcy Code or if jurisdiction in any

state court or any federal court cannot be obtained over an owner or

operator likely to be solvent at the time of judgment, any claim

arising from conduct for which evidence of financial responsibility

Oklahoma Statutes - Title 27A. Environment and Natural Resources Page 182

is required pursuant to the Oklahoma Hazardous Waste Management Act

may be asserted directly against the guarantor providing such

evidence of financial responsibility. In the case of any action

taken pursuant to this section, such guarantor shall be entitled to

claim all rights and defenses which would have been available to the

owner or operator if any action had been brought against the owner

or operator by the claimant and which would have been available to

the guarantor if any action had been brought against the guarantor

by the owner or operator.

2. The total liability of any guarantor shall be limited to the

aggregate amount which the guarantor has provided as evidence of

financial responsibility for the owner or operator pursuant to the

Oklahoma Hazardous Waste Management Act. Nothing in this subsection

shall be construed to limit any other state or federal statutory,

contractual or common law liability of a guarantor to its owner or

operator including, but not limited to, the liability of such

guarantor for bad faith either in negotiating or failing to

negotiate the settlement of any claim. Nothing in this subsection

shall be construed to diminish the liability of any person under the

Federal Comprehensive Environmental Response, Compensation and

Liability Act of 1980 or other applicable law.