 |
Ohio Administrative Code (Last Updated: January 12, 2021) |
 |
3745 Ohio Environmental Protection Agency |
|
Chapter3745-92. Escrow Requirements |
3745-92-04. Release of escrow
-
(A) The escrow agreement shall be irrevocable unless released by the director upon a showing that the system or part thereof for which the escrow deposit is made:
(1) Has gone out of service and is no longer needed by the persons it formerly served;
(2) Has been acquired and is being operated by a public entity or has come under regulation of the public utilities commission; or
(3) Any other circumstances if the director determines that retention of the escrow deposit is no longer required under section 6109.08 of the Revised Code.
(B) If there is a change of ownership of the system and a release of the escrow agreement pursuant to paragraph (A) of this rule, the escrow deposit shall be released to the new owner.