30-693

30-693. Financial qualifications; exemptions;
financial security; release

A. Each licensee shall as a condition of its license:

1. Arrange for and pay all of the costs of management, control, stabilization and
disposal of the licensed activity and tailings and for decommissioning the licensed
activity.

2. On the termination of all licensed activities, convey to this state all right,
title and interest held by the licensee to the lands, buildings and grounds designated as
sites for the concentration and permanent storage or disposal of radioactive waste
materials resulting from the licensed activity pursuant to section 30-672, together with
requisite rights of ingress and egress, and all rights, title and interest in, of and to
all radioactive waste materials situated on such properties or, at the election of the
licensee, to otherwise make safe or dispose of any radioactive waste materials in its
possession on the termination of all licensed activities in accordance with the
regulations of the agency.

B. Each applicant for a license or any renewal of a license shall demonstrate and
the agency shall prior to issuance of any license or renewal of a license find that such
applicant is financially qualified to conduct the licensed activity, including any
required decommissioning and disposal of radioactive material. The licensee shall submit
to the agency current proof of its financial qualifications at such intervals as the
agency shall by regulation or license require.

C. Each licensee shall post financial security acceptable to the agency to assure
performance by the licensee of its obligations under this article and to provide funds to
this state if the licensee abandons, defaults or is otherwise unable to meet any
requirements of this chapter or rules and regulations of the agency. Such acceptable
financial security may include one or more of the following:

1. A bond executed by a surety company or companies authorized to do business in
this state which is not terminable during the term of the license.

2. A letter of credit issued by a financial institution authorized to do business
in this state.

3. A cash bond.

4. The guarantee of a licensee whose financial qualifications meet the requirements
of the agency or who furnishes collateral satisfactory to the agency in the form of a
suitable guarantee by any person, if such person has financial qualifications that meet
the requirements of the commission.

D. The agency shall determine the amount of the financial security in accordance
with criteria established by rule and regulation including:

1. Consideration of the need for and scope of any decommissioning or other activity
reasonably required to protect the health and safety of the public.

2. Reasonable estimates of the costs of such decommissioning as provided in section
30-695, subsection B.

3. The net worth of the sum required for the perpetual maintenance and surveillance
of any radioactive waste materials resulting from the licensed activity.

E. The licensee shall pay all sums required to be paid under this section into the
radiation regulatory and perpetual care fund. The agency shall ensure that all amounts
posted, paid or forfeited as financial security under this section are paid into the
radiation regulatory and perpetual care fund.

F. Upon the satisfaction by a licensee of all of its obligations under subsection A
of this section, the agency shall release the financial security furnished under this
section.

G. The agency shall deposit all monies received by the agency as a result of any
forfeiture or enforcement of any financial security furnished pursuant to this section in
the radiation regulatory and perpetual care fund.