State Codes and Statutes

State Codes and Statutes

Statutes > Mississippi > Title-45 > 14 > 45-14-29

§ 45-14-29. Bond, insurance or other security of persons dealing in radioactive materials.
 

No person shall use, manufacture, produce, transport, transfer, receive, acquire, own or possess radioactive materials until that person shall have procured and filed with the agency such bond, insurance or other security as the agency may by regulation require. Such bond, insurance or other security shall: 
 

(a) run in favor of the state of Mississippi in the amount set by the agency which shall be a reasonable amount commensurate with the possible danger and potential damage which may occur due to the use, manufacture, production, transportation, transfer, receipt, acquisition or possession of radioactive materials; provided, however, that the minimum amounts shall be as follows: 

(i) One hundred thousand dollars ($100,000.00) for all damages because of bodily injury sustained by one (1) person as the result of any one (1) occurrence and three hundred thousand dollars ($300,000.00) for all damages because of bodily injury sustained by two (2) or more persons as the result of any one (1) occurrence; 

(ii) One hundred thousand dollars ($100,000.00) for all claims arising out of damage to property as the result of any one (1) occurrence including completed operations, with an aggregate limit of three hundred thousand dollars ($300,000.00) for all property damage to which the policy applied; and 

(b) have as guarantor on such bond or insurance a surety company licensed to do business in the state of Mississippi. 
 

Sources: Laws,  1976, ch. 469, § 15, eff from and after passage (approved May 25, 1976).