33 C.F.R. § 135.205   Methods of establishing.


Title 33 - Navigation and Navigable Waters


Title 33: Navigation and Navigable Waters
PART 135—OFFSHORE OIL POLLUTION COMPENSATION FUND
Subpart C—Financial Responsibility for Offshore Facilities

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§ 135.205   Methods of establishing.

(a) Evidence of financial responsibility may be established by any one, or any combination acceptable to the Fund Administrator, of the following methods:

(1) Insurance;

(2) Guaranty;

(3) Indemnity;

(4) Surety bond; or

(5) Qualification as self-insurer.

(b) The Fund Administrator will accept alternative evidence of financial responsibility if, in the Fund Administrator's opinion, it establishes an equivalent degree of financial responsibility for the purposes of this subpart.

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