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To: Owners and Operators of Petroleum Underground Storage Tanks (USTs) <br /> RE: DEMONSTRATION OF FINANCIAL RESPONSIBILITY FOR PETROLEUM LISTS <br /> What is financial Financial responsibility means that an owner or operator must ensure <br /> responsibility? that they can help pay for the costs of corrective action and third party <br /> liability caused by a contaminating release of petroleum from a UST. <br /> Who is responsible? Either the owner or operator of regulated petroleum USTs must <br /> demonstrate financial responsibility. If neither does, both are held <br /> liable. <br /> How to demonstrate A popular way for owners/operators to certify financial responsibility is <br /> financial the use of the State Fund with a letter from the Chief Financial Officer <br /> responsibility (CFO). The letter must demonstrate financial responsibility for $5,000 <br /> ($10,000 for businesses with over 500 employees) per occurrence and <br /> annual aggregate exclusive of the Fund. A minimum net worth of <br /> $50,000 is required; $100,000 for businesses with over 500 employees. <br /> Guidance provided To assist you with your demonstration of financial responsibility, we <br /> have enclosed the following sample and blank documents: <br /> • Certification of Financial Responsibility <br /> • Chief Financial Officer letter. <br /> Simply complete the above fill-in forms per the instructions and samples <br /> provided and send to the address below without delay. <br /> Per occurrence and Use the table to determine the correct completion of Section A in the <br /> aggregate Certification of Financial Responsibility. <br /> requirements <br /> Petroleum Marketers $1 Million <br /> OR <br /> Non-Marketers with a monthly average throughput of: <br /> 10,000 Gallons or less $500,000 <br /> Over 10,000 Gallons $1 Million <br /> ��III 111��'1a4���il�iill) � j��;�rpoii x�Y Y Yae�e <br /> 1 through 100 Tanks $1 Million <br /> Continued on next page <br />