Section 170.730  Mechanisms of Financial Responsibility

The permissible mechanisms for proof of financial responsibility are as follow:

a)         Commercial or private insurance, including risk retention groups (40 CFR 280.97, incorporated by reference in Section 170.705);

b)         Self-insurance (40 CFR 280.95, incorporated by reference in Section 170.705), if there is a net worth of at least $200,000;

c)         Guarantee (40 CFR 280.96, incorporated by reference in Section 170.705);

d)         Surety bond (40 CFR 280.98, incorporated by reference in Section 170.705);

e)         Letter of credit (40 CFR 280.99 incorporated by reference in Section 170.705);

f)          Certificate of deposit;

g)         Designated savings account; or

h)         Any combination of the above mechanisms.

(Source:  Added at 19 Ill. Reg. 5467, effective April 1, 1995)