Tina is the president of Bank X which holds a mortgage on a company found liable for illegal disposal of hazardous waste. The company has stopped paying on its loan to Bank X. Tina would like to foreclose, but she does not want the bank to become liable under CERCLA as an owner. What should she do?
a. Tina should do nothing because foreclosure would automatically result in the bank becoming liable under CERCLA for clean-up costs.
b. Tina should go ahead and foreclose because so long as the bank did not participate in the management of the facility prior to foreclosure, the bank will not be considered liable under CERCLA for clean-up costs.
c. Tina should immediately arrange for the bank to become involved in managing the facility because so long as the bank participated in the management of the facility prior to foreclosure, the bank will not be considered liable under CERCLA for clean-up costs.
d. Tina might as well go ahead and foreclose because as a mortgage holder, the bank is already automatically liable under CERCLA for clean-up costs.
b
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