(a) An owner or operator required by this chapter to provide financial assurance for closure, post closure, or liability coverage must submit an originally signed financial assurance mechanism to the executive director 60 days prior to acceptance of waste. The mechanism must be in effect before the initial receipt of waste.(b) An owner or operator required by this chapter to provide financial assurance for corrective action must submit an originally signed financial assurance mechanism 60 days after the permit or order requiring the corrective action financial assurance is signed by the executive director or commission. The mechanism must be in effect when submitted.