Sec. 27.050. FINANCIAL RESPONSIBILITY. (a) A person to whom a permit is issued under this subchapter must provide to the railroad commission annually evidence of financial responsibility that is satisfactory to the railroad commission.
(b) In determining whether the person is financially responsible, the railroad commission shall rely on:
(1) the person's most recent quarterly report filed with the United States Securities and Exchange Commission under Section 13 or 15(d), Securities Exchange Act of 1934 (15 U.S.C. Section 78m or 78o(d)); or
(2) if the person is not required to file with the United States Securities and Exchange Commission a report described by Subdivision (1), the person's most recent audited financial statement.
Added by Acts 2009, 81st Leg., R.S., Ch. 224 (S.B. 1387), Sec. 2, eff. September 1, 2009.
Structure Texas Statutes
Title 2 - Water Administration
Subtitle D - Water Quality Control
Subchapter C. -1. Geologic Storage and Associated Injection of Anthropogenic Carbon Dioxide
Section 27.043. Permit From Railroad Commission
Section 27.044. Information Required of Applicant
Section 27.046. Letter of Determination From Railroad Commission
Section 27.0461. Letter of Determination From Commission
Section 27.048. Consistency With and Implementation of Federal Requirements