(a) The purpose of this subchapter is to establish the procedure for posting financial assurance for all permitted solid waste management facilities.
(b) The procedure for issuance of permits for solid waste management facilities shall be as provided in the rules and regulations adopted by the Arkansas Pollution Control and Ecology Commission under this subchapter or as otherwise provided by law.
(c)
(1) After an application to operate a facility has been reviewed and approved but before a permit is issued, the applicant shall post with the Arkansas Department of Environmental Quality, on forms prescribed by the department in accordance with the regulations issued under this subchapter, a corporate surety bond for performance or an acceptable alternative, such as a certificate of deposit or letter of credit payable to the department and conditioned upon faithful performance of all requirements of this subchapter, the regulations issued pursuant to this subchapter, and the permit, including, but not limited to, proper closure of the facility.
(2) Liability under the bond shall be for the duration of the disposal operation and for that period required to properly close the facility and for post-closure care, in accordance with the regulations issued by the commission.
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