A person who maintains indicia of ownership of a site, vessel or facility primarily to protect a security interest in a site, vessel or facility, and who does not participate in the management of the site, vessel or facility and is not an owner or operator of the site, vessel or facility shall not be deemed the discharger or responsible party for a discharge from the site, vessel or facility and shall not be liable for cleanup costs or damages resulting from discharge from the site, vessel or facility pursuant to this chapter, except to the extent that liability may still apply to holders after foreclosure as set forth in §68-212-403. The plaintiff or petitioner bears the burden of establishing that the defendant or respondent is liable as an owner or operator.