Section 93.703. Definitions.

  In this subchapter:

(1)  "Accidental release" means any release of petroleum from a storage tank system that results in a need for compensation for bodily injury or property damage neither expected nor intended by the tank owner or operator or corrective action, or both.

(2)  "Affidavit of financial responsibility" means a form, supplied by the department on which the owner and operator attest to compliance with 40 CFR 280.111 .

(3)  "Aggregate" means an accident or a continuous or repeated exposure to conditions that result in a release from a storage tank system which might occur in 1 year.

(4)  "Bodily injury" has the meaning given to this term by applicable Wisconsin statutes; however, this term does not include those liabilities that, consistent with standard insurance industry practices, are excluded from coverage in liability insurance policies for bodily injury.

(5)  "Controlling interest" means direct ownership of at least 50 percent of the voting stock of another entity.

(6)  "Financial reporting year" means the latest consecutive 12-month period for which any of the following reports are prepared:

(a) A 10-K report submitted to the US securities and exchange commission.

(b) An annual report of tangible net worth submitted to Dun and Bradstreet.

(c) An annual report submitted to the federal energy information administration or rural electrification administration.

(7)  "Legal defense cost" means any expense that an owner or operator or provider of financial assurance incurs in defending against claims or actions brought by any of the following:

(a) By the US EPA or the department to require corrective action or to recover the costs of corrective action.

(b) By or on behalf of a third party for bodily injury or property damage caused by an accidental release.

(c) By any person to enforce the terms of a financial assurance mechanism.

(8)  "Occurrence" means an accident or a continuous or repeated exposure to conditions, that results in a release from a storage tank system.

(9)  "Operation" or "in operation" means the underground storage tank was used to store a regulated substance at any time after December 22, 1988, regardless of the current status of the tank.

(10)  "Owner or operator," when the owner or operator are separate parties, means the party that is obtaining or has obtained financial assurances.

(11)  "Petroleum marketing facilities" means all facilities at which petroleum is produced or refined and all facilities from which petroleum is sold or transferred to other petroleum marketers or to the public.

(12)  "Petroleum marketing firms" means all firms owning petroleum marketing facilities. Firms owning other types of facilities with tanks covered in the scope of this subchapter as well as petroleum marketing facilities are considered to be petroleum marketing firms.

(13)  "Property damage" has the meaning given to this term by administrative rules of the office of commissioner of insurance. This term does not include those liabilities that, consistent with standard insurance industry practices, are excluded from coverage in liability insurance policies for property damage. However, such exclusions for property damage do not include corrective action associated with releases from tanks that are covered by the policy.

(14)  "Provider of financial assurance" means an entity that provides financial assurance to an owner or operator of a tank system covered in this subchapter through one of the mechanisms listed in ss. ATCP 93.710 to 93.735 , including a guarantor, insurer, risk retention group, surety, issuer of a letter of credit, issuer of a state-required mechanism, or a state.

(15)  "Substantial business relationship" means the extent of a business relationship necessary under Wisconsin law to make a guarantee contract issued incident to that relationship valid and enforceable. A guarantee contract is issued incident to that relationship if it arises from and depends on current economic transactions between the guarantor and the owner or operator.

(16)  "Tangible net worth" means the tangible assets that remain after deducting liabilities; the assets do not include intangibles such as goodwill and rights to patents or royalties. For purposes of this definition, "assets" means all current and all probable future economic benefits obtained or controlled by a particular entity as a result of past transactions.

CR 07-029 : cr. Register November 2008 No. 635 , eff. 2-1-09; correction in (14) made under s. 13.92 (4) (b) 7. , Stats., Register December 2011 No. 672 ; correction in (14) made under s. 13.92 (4) (b) 7. , Stats., Register October 2013 No. 694 .

Note

The affidavit of financial responsibility is available from the Bureau of Weights and Measures, PO Box 8911, Madison, WI 53708-8911, or at telephone [phone], or at https://datcp.wi.gov/Pages/Programs_Services/PetroleumHazStorageTanks.aspx . Microsoft Windows NT 6.1.7601 Service Pack 1 The affidavit of financial responsibility is required in addition to the certification showing the specific type of financial responsibility. See section ATCP 93.745 (2) (j) for further information. Microsoft Windows NT 6.1.7601 Service Pack 1 This definition is intended to assist in the understanding of these regulations and is not intended either to limit the meaning of "aggregate" in a way that conflicts with standard insurance usage or to prevent the use of other standard insurance terms in place of "aggregate." Microsoft Windows NT 6.1.7601 Service Pack 1 For further information about this term, see chapter Ins 6, which interprets this term as it is used in section 292.63 (1) (ad) of the Statutes, for petroleum storage environmental cleanup. Microsoft Windows NT 6.1.7601 Service Pack 1 "Financial reporting year" may thus comprise a fiscal or a calendar year period. Microsoft Windows NT 6.1.7601 Service Pack 1 This definition is intended to assist in the understanding of these regulations and is not intended either to limit the meaning of "occurrence" in a way that conflicts with standard insurance usage or to prevent the use of other standard insurance terms in place of "occurrence." Microsoft Windows NT 6.1.7601 Service Pack 1 For further information about this term, see chapter Ins 6, which interprets this term as it is used in section 292.63 (1) (ad) of the Statutes, for petroleum storage environmental cleanup. Microsoft Windows NT 6.1.7601 Service Pack 1