Nevada Revised Statutes 459.525 – Financial responsibility of owner or operator of facility; claim against insurer, guarantor, surety or other person providing evidence of financial responsibility
1. The Commission shall adopt regulations requiring that the owner or operator of any facility for the treatment, storage or disposal of hazardous waste show his or her financial responsibility for the undertaking by providing:
Terms Used In Nevada Revised Statutes 459.525
- Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
- Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. Source: OCC
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- person: means a natural person, any form of business or social organization and any other nongovernmental legal entity including, but not limited to, a corporation, partnership, association, trust or unincorporated organization. See Nevada Revised Statutes 0.039
(a) Evidence that the owner or operator has a policy of liability insurance in an amount which the Department has determined is necessary for the protection of human health, public safety and the environment;
(b) Evidence of security, in a form and amount which the Department deems necessary, to ensure that at the time of any abandonment, cessation or interruption of the service provided by the facility, and thereafter, all appropriate measures will be taken to prevent damage to human health, public safety and the environment; and
(c) Any other evidence of financial responsibility which the Commission finds necessary for those purposes.
2. Requirements established pursuant to this section may not exceed those requirements for financial responsibility established pursuant to the Resource Conservation and Recovery Act of 1976, 42 U.S.C. § 6901 et seq.
3. Any claim arising from conduct for which evidence of financial responsibility is required may be asserted directly against the insurer, guarantor, surety or other person providing such evidence if the owner or operator:
(a) Has filed a petition in bankruptcy, or is the object of an involuntary petition;
(b) Cannot respond in damages in the event a judgment is entered against the owner or operator; or
(c) Is not subject to the personal jurisdiction of any court of this or any other state, or of the United States, or cannot, with due diligence, be served with process.
4. If a claim is asserted directly against a person providing evidence of financial responsibility, that person may assert any right or defense which:
(a) The person might have asserted in any action against him or her by the owner or operator; or
(b) The owner or operator might have asserted, had the claim been made against him or her.