ND HB1104

Department of Health may require insurance coverage or other financial assurance for environmental monitoring or remediation on properties with institutional controls or responsibility exemptions.

Department must require financial assurance when projected costs of active monitoring or remediation programs exceed $500,000.

Department may terminate financial assurance requirements if the property no longer presents a significant threat to public health or the environment.

Department may enter joint agreements with political subdivisions, agencies, property owners, lenders, and responsible parties to fund insurance coverage or financial assurance for contaminated properties.

Any financial assurance fund must comply with North Dakota trust fund law (chapters 59-09 through 59-19) and fund liability cannot exceed the amount deposited into the fund.