75-10-216. Waste tire disposal sites -- financial assurance required. (1) A solid waste management system licensed pursuant to 75-10-221 for the sole or primary purpose of storage, treatment, processing, or disposal of waste tires is required to provide and maintain financial assurance in accordance with rules of the department.

(2) Financial assurance required by this section must be sufficient to cover the cost of proper management of the waste tires stored at the facility, including but not limited to waste tire treatment, removal, transportation, disposal, fire suppression, or other measures necessary to protect the environment and the health, safety, and welfare of the public. The licensee may elect to provide financial assurance by any one method or a combination of methods satisfactory to the department, including but not limited to insurance, a guarantee, performance, or other surety bond, a letter of credit, qualification as a self-insurer, or other demonstration of financial capability.

(3) The department may require the owner or operator of the facility to modify the terms and conditions of financial assurance provided for the purposes of this section to adjust for changing circumstances at the facility, including but not limited to the number of waste tires accumulated without processing or disposal, availability of alternative waste tire markets, the financial viability of the facility operation, and the estimated costs of waste tire treatment, processing, transportation, and disposal alternatives.