Indiana § 13-23-4-6 Bankruptcy of owner or operator of underground storage tank; liability
of guarantor

Indiana Statutes

§ 13-23-4-6 — Bankruptcy of owner or operator of underground storage tank; liability of guarantor

Indiana·Art. 23 UNDERGROUND STORAGE TANKS·Ch. 4 Financial Responsibility

(a)If:

(1)the owner or operator of an underground storage tank is in bankruptcy, reorganization, or arrangement under the federal bankruptcy law; or

(2)despite the exercise of reasonable diligence, no state or federal court could obtain jurisdiction over an owner or operator likely to be solvent at the time of judgment; any claim arising from conduct for which evidence of financial responsibility is provided may be asserted directly against the guarantor.

(b)In an action based upon a claim under subsection (a), the guarantor may invoke:

(1)all rights and defenses that would have been available to the owner or operator if the action had been brought against the owner or operator by the claimant; and

(2)all rights and defenses that would have been available to the guarantor if an actio

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(a) If:
(1) the owner or operator of an underground storage tank is in
bankruptcy, reorganization, or arrangement under the federal
bankruptcy law; or
(2) despite the exercise of reasonable diligence, no state or federal
court could obtain jurisdiction over an owner or operator likely to
be solvent at the time of judgment;
any claim arising from conduct for which evidence of financial
responsibility is provided may be asserted directly against the
guarantor.
(b) In an action based upon a claim under subsection (a), the
guarantor may invoke:
(1) all rights and defenses that would have been available to the
owner or operator if the action had been brought against the
owner or operator by the claimant; and
(2) all rights and defenses that would have been available to the
guarantor if an action had been brought against the guarantor by
the owner or operator.
(c) The total liability of a guarantor under this section is limited to
the aggregate amount in which the guarantor has provided evidence of
financial responsibility for the owner or operator of an underground
storage tank. This section does not do any of the following:
(1) Limit any other liability of a guarantor to the owner or
operator of an underground storage tank, such as liability for bad
faith in:
(A) negotiating; or
(B) failing to negotiate;
the settlement of any claim.
(2) Diminish the liability of any person under the following:
(A) Section 107 or 111 of the federal Comprehensive
Environmental Response, Compensation, and Liability Act of
1980 (42 U.S.C. 9607 or 9611).
(B) Any other applicable law.
[Pre-1996 Recodification Citation: 13-7-20-17(b),
(c).]

Indiana § 13-23-4-6 (Bankruptcy of owner or operator of underground storage tank; liability of guarantor) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.