(a) The permittee shall secure and maintain financial assurance for plugging and abandonment in the amount of the plugging and abandonment cost estimate for Class I, Class I salt cavern disposal wells and associated salt caverns, and Class III wells in a manner that meets the requirements of Chapter 37, Subchapter Q of this title (relating to Financial Assurance for Underground Injection Control Wells). Financial assurance for plugging and abandonment shall be provided in the amount of the plugging and abandonment cost estimate as provided in §331.143 of this title (relating to Cost Estimate for Plugging and Abandonment and Aquifer Restoration). Financial assurance for post closure of Class I hazardous wells shall be provided in the amount of the post closure cost estimate.
(b) The permittee of a hazardous waste Class I waste injection well shall establish and maintain sufficient liability coverage for bodily injury and property damage to third parties caused by sudden or nonsudden accidental occurrences arising from operations of the facility that meets the requirements of Chapter 37 of this title (relating to Financial Assurance) and §305.154(a)(11) of this title (relating to Standards).
(c) The requirement to maintain financial responsibility is enforceable regardless of whether the requirement is a condition of the permit.

Source Note: The provisions of this §331.142 adopted to be effective October 16, 1992, 17 TexReg 6780; amended to be effective January 2, 1995, 19 TexReg 10099; amended to be effective March 21, 2000, 25 TexReg 2385; amended to be effective August 16, 2012, 37 TexReg 6078