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What are the financial responsibility requirements for USTs?

April 26, 2017financial requirements responsibility USTs

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What are the financial responsibility requirements for USTs?

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Federal regulations 40 CFR parts 280 and 281 state that owners and operators of petroleum underground storage tanks shall demonstrate financial responsibility for taking corrective action and for compensating third parties for bodily injury and property damage caused by accidental release arising from the operation of petroleum underground storage tanks. Please refer to the Federal regulations for specifics regarding the amount of financial coverage and the dates for coverage implementation. See 527 CMR 9.07N for details and exceptions from the financial responsibility requirements.