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Surety Bond Posted
What Is A Surety Bond Insurance | Bonding And Insurance
(415 ILCS 5/21.1)
(from Ch. 111 1/2, par. 1021.1)
(a) Except as provided in subsection (a.5), no person other
than the State of Illinois, its agencies and institutions, or a unit of local
government shall own or operate a MSWLF unit or other waste disposal operation on or after March 1,
1985, which requires a permit under subsection (d) of Section 21 of this Act,
unless such person has posted with the Agency a performance bond or other
security for the purpose of insuring closure of the site and post-closure care
in accordance with this Act and regulations adopted thereunder.
(a.5) On and after the effective date established by the United
States Environmental Protection Agency for MSWLF units to provide financial
assurance under Subtitle D of the Resource Conservation and Recovery Act, no
person, other than
the State of
Illinois, its agencies and institutions, shall own or operate a MSWLF unit that requires a permit under subsection (d) of Section 21 of
this Act, unless that person has posted with the Agency a performance bond or
other security for the purposes of:
(1) insuring closure of the site and post-closure
care in accordance with this Act and its rules; and
(2) insuring completion of a corrective action remedy
when required by Board rules adopted under Section 22.40 of this Act or when required by Section 22.41 of this Act.
The performance bond or other security requirement set forth in this
may be fulfilled by closure or post-closure insurance, or both, issued by an
licensed to transact the business of insurance by the Department of Insurance
or at a minimum the insurer must be licensed to transact the business of
insurance or approved to provide insurance as an excess or surplus lines
insurer by the insurance department in one or more states.
(b) On or before January 1, 1985, the Board shall adopt regulations to
promote the purposes of this Section. Without limiting the generality of
this authority, such regulations may, among other things, prescribe the
type and amount of the performance bonds or other securities required under
subsections (a) and (a.5) of this Section, and the conditions under which the
State is entitled to collect monies from such performance bonds or other
securities. The bond amount shall be directly related to the design and volume
of the site. The cost estimate for the post-closure care of a MSWLF unit shall
be calculated using a 30 year post-closure care period or such other period as
may be approved by the Agency under Board or federal rules. On and after the
effective date established by the United States Environmental Protection Agency
for MSWLF units to provide financial assurance under Subtitle D of the Resource
Conservation and Recovery Act, closure,
post-closure care, and corrective action cost estimates for MSWLF units shall
be in current dollars.
(c) There is hereby created within the State Treasury a special fund to
be known as the "Landfill Closure and Post-Closure Fund". Any monies forfeited
to the State of Illinois from any performance bond or other security required
under this Section shall be placed in the "Landfill Closure and Post-Closure
Fund" and shall, upon approval by the Governor and the Director, be used
by and under the direction of the Agency for the purposes for which such
performance bond or other security was issued. The Landfill Closure and
Post-Closure Fund is not subject to the provisions of subsection (c) of Section
5 of the State Finance Act.
(d) The Agency is authorized to enter into such contracts and agreements
as it may deem necessary to carry out the purposes of this Section. Neither
the State, nor the Director, nor any State employee shall be liable for
any damages or injuries arising out of or resulting from any action taken
under this Section.
(e) The Agency shall have the authority to approve or disapprove any
performance bond or other security posted pursuant to subsection (a) or
this Section. Any person whose performance bond or other security is
disapproved by the Agency may contest the disapproval as a permit denial
appeal pursuant to Section 40 of this Act.
(f) The Agency may establish such procedures as it may deem necessary
for the purpose of implementing and executing its responsibilities under this
(g) Nothing in this Section shall bar a cause of action by the State for
any other penalty or relief provided by this Act or any other law.
(Source: P.A. 97-887, eff. 8-2-12.)