monitor or inspect the borrower’s business or financial condition during the term of the
security interest; or taking other actions necessary to adequately police the loan or
security interest such as requiring a borrower to comply with any warranties, covenants,
conditions, representations, or promises from the borrower.
(y) “Potentially Liable Person” means any person whom the Department finds, based on credible
evidence, to be liable under Section 34-1.05 and may include a person who participated in the
management of a facility.
(1) The Department shall give notice to any such person and allow an opportunity for
comment before making the finding, unless an emergency requires otherwise.
(z) “Prepare a Facility for Sale, Transfer, or Assignment” means to secure access to the facility;
perform routine maintenance on the facility; remove inventory, equipment, or structures;
properly maintain environmental compliance measures already in place at the facility; conduct
remedial actions to clean up releases at the facility; or to perform other similar activities
intended to preserve the value of the facility where the borrower has defaulted on the loan or
otherwise breached the security agreement or after foreclosure and its equivalents and in
anticipation of a pending sale, transfer, or assignment, primarily to protect the holder’s security
interest in the facility.
(1) A holder can prepare a facility for sale, transfer, or assignment for up to 1 year prior to
foreclosure and its equivalents and still stay within the security interest exemption in
Section 34-1.03(u)(3)(B).
(aa)
“Primarily to Protect a Security Interest” means the indicia of ownership is held primarily for
the purpose of securing payment or performance of an obligation.
(1) The term does not include indicia of ownership held primarily for investment purposes
nor indicia of ownership held primarily for purposes other than as protection for a
security interest.
(2) A holder may have other, secondary reasons, for maintaining indicia of ownership, but
the primary reason must be for protection of a security interest.
(3) Holding indicia of ownership after foreclosure or its equivalents for longer than 5 years
shall be considered to be holding the indicia of ownership for purposes other than
primarily to protect a security interest.
(4) For facilities that have been acquired through foreclosure or its equivalents prior to the
date this Chapter is enacted and adopted by the Council, this 5 year period shall begin
as of the date of enactment and adoption.
(bb)
“Public Notice” means, adequate notice mailed to all persons who have made timely request
of the Department and to persons residing in the potentially affected vicinity of the proposed
action; and published in the Tribal newspaper. Public Notice may include an opportunity for
interested persons to comment.
(cc) “Release” means any intentional or unintentional entry of any hazardous substance into the
environment, including but not limited to the abandonment or disposal of containers of
hazardous substances.
(dd)
“Reservation Environment” means the natural environment within the exterior boundaries of
the Spokane Indian Reservation and the natural environment of other lands held in trust by the
U.S. Government for the Tribe or its members.
(ee)
“Reservation Population” means all persons residing within the Reservation Environment.
(ff) “Remedy” or “Remedial action” means any action or expenditure consistent with the purpose of
this Chapter to identify, eliminate, clean up, or minimize any threat of potential threat posed by
hazardous substances to human health or the environment including any investigative and
monitoring activities with respect to any release or threatened release of a hazardous substance
and any health assessments or health effects studies conducted in order to determine the risk or
potential risk to human health.
(gg)
"Risk" unless otherwise specified herein includes cumulative risk attributable to the release.
272
Revised Spokane Law & Order Code, 5/14/2013