(1) Authority. An owner or operator may substitute any alternate financial assurance mechanisms as specified in this part, provided that at all times the owner or operator maintains an effective financial assurance mechanism or combination of mechanisms that satisfies the requirements of WAC 173-360A-1015.

(2) Cancellation. After obtaining alternate financial assurance as specified in this part, an owner or operator may cancel a financial assurance mechanism by providing notice to the provider of financial assurance in accordance with requirements for cancellation set forth for the specific mechanism in WAC 173-360A-1060 through 173-360A-1073.