10A NCAC 15 .0355         FINANCIAL TESTS: SELF- AND PARENT CO. GUARANTEES: DECOMMISSIONING FUNDING

(a)  Licensees or applicants for a radioactive materials license requiring financial assurance under Rule .0353 of this Section may self-guarantee funds, or provide a guarantee of funds by their parent company for decommissioning funding in accordance with the provisions of Rule .0354 of this Section, except that:

(1)           parent companies guaranteeing funds for decommissioning shall have a tangible net worth of at least ten million dollars ($10,000,000) to meet the asset requirement set forth in Section II, Paragraphs A.1(iii) or A.2(iii), of Appendix A to 10 CFR Part 30;

(2)           licensees self-guaranteeing funds for decommissioning who issue bonds, and whose bonds meet the bond rating requirements of Section II, Paragraph A.(3) of Appendix C to 10 CFR Part 30 shall have a tangible net worth of at least ten million dollars ($10,000,000), and at least six times the amount of decommissioning funds being assured by the self-guarantee to meet the asset requirements set forth in Section II, Paragraph A.(2) and A.(3) of Appendix C to 10 CFR Part 30;

(3)           licensees self-guaranteeing funds for decommissioning who do not issue bonds, or whose bonds do not meet the bond rating requirements of Section II, Paragraph A.(3) of Appendix C to 10 CFR Part 30, shall have a tangible net worth of at least ten million dollars ($10,000,000), and at least six times the amount of decommissioning funds being assured by the self-guarantee to meet the asset requirements set forth in Section II, Paragraph A.(1) and A.(2) of Appendix D to 10 CFR Part 30;

(4)           licensees self-guaranteeing funds for decommissioning who are nonprofit publicly funded colleges, universities, or hospitals shall meet the funding requirements set forth in 10 CFR 30.35(f)(4). For the purpose of this Rule, publicly funded trade schools, technical institutes, technical colleges, technical universities, or other publicly funded educational institutions are to be interpreted as "nonprofit publicly funded colleges;"

(5)           licensees self-guaranteeing funds for decommissioning who are nonprofit privately funded, or nonprofit semi-privately funded colleges, or universities who do not issue bonds, or whose bonds do not meet the bond rating requirements of Section II, Paragraph A.(1) of Appendix E to Part 30 shall have an unrestricted endowment consisting of assets worth of at least ten million dollars ($10,000,000), and at least six times the amount of decommissioning funds being assured by the self-guarantee to meet the asset requirements set forth in Section II, Paragraph A.(2) of Appendix E to 10 CFR Part 30; or

(6)           licensees self-guaranteeing funds for decommissioning who are nonprofit privately funded, or nonprofit semi-privately funded hospitals who do not issue bonds, or whose bonds do not meet the bond rating requirements of Section II, Paragraph B.(1) of Appendix E to 10 CFR Part 30 shall have a tangible net worth of at least ten million dollars ($10,000,000), and at least six times the amount of decommissioning funds being assured by the self-guarantee to meet the asset requirements set forth in Section II, Paragraph B.(2) of Appendix E to 10 CFR Part 30.

(b)  Notwithstanding Rule .0117 of this Chapter, the regulations cited in this Rule from 10 CFR Chapter I (2015) are hereby incorporated by reference, excluding subsequent amendments and editions. Copies of these regulations are available free of charge at http://www.ecfr.gov/cgi-bin/text-idx?SID=2beeece594411a03e50b2468ae31f89b&pitd=20160101&tpl=/ecfrbrowse/Title10/10tab_02.tpl.

History Note:        Authority G.S. 104E‑7; 104E‑18;

Eff. May 1, 1992;

Transferred and Recodified from 15A NCAC 11 .0355 Eff. February 1, 2015;

Amended Eff. March 1, 2017.