(a) An owner or operator may substitute any alternate financial assurance mechanisms as specified in this subchapter provided that at all times he or she maintains an effective financial assurance mechanism or combination of mechanisms that satisfies the requirements of §37.815 of this title  (relating to Amount and Scope of Required Financial Responsibility).     
      (b) After obtaining alternate financial assurance as specified in this subchapter, an owner or operator may cancel a financial assurance mechanism by providing notice to the provider of financial assurance.     
     Source Note:        The provisions of this §37.860 adopted to be effective November 23, 2000, 25 TexReg 11399