Owners of new or modified lagoons registered under the provisions of this Act shall establish and maintain evidence of financial responsibility to provide for the closure of the lagoons and the proper disposal of their contents within the time provisions outlined in this Act. Financial responsibility may be evidenced by any combination of the following: (1) Commercial or private insurance; (2) Guarantee; (3) Surety bond; (4) Letter of credit; (5) Certificate of Deposit or designated savings account; (6) Participation in a livestock waste lagoon closure fund managed by the Illinois Finance Authority. The level of surety required shall be determined by rule and be based upon the volumetric capacity of the lagoon. Surety instruments required under this Section shall be required after the effective date of rules adopted for the implementation of this Act. account; fund managed by the Illinois Finance Authority.
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