70.149.070 - Heating oil pollution liability trust account.

Heating oil pollution liability trust account. (Expires June 1, 2013.)

(1) The heating oil pollution liability trust account is created in the custody of the state treasurer. All receipts from the pollution liability insurance fee collected under RCW 70.149.080 and reinsurance premiums shall be deposited into the account. Expenditures from the account may be used only for the purposes set out under this chapter. Only the director or the director's designee may authorize expenditures from the account. The account is subject to allotment procedures under chapter 43.88 RCW, but no appropriation is required for expenditures. Any residue in the account in excess of funds needed to meet administrative costs for January of the following year shall be transferred at the end of the calendar year to the pollution liability insurance program trust account.

     (2) Money in the account may be used by the director for the following purposes:

     (a) Corrective action costs;

     (b) Third-party liability claims;

     (c) Costs associated with claims administration;

     (d) Purchase of an insurance policy to cover all registered heating oil tanks, and reinsurance of the policy; and

     (e) Administrative expenses of the program, including personnel, equipment, supplies, and providing advice and technical assistance.

[2004 c 203 § 2; 1997 c 8 § 2; 1995 c 20 § 7.]