ML17206A792

Forwards Amend 5 to Indemnity Agreement B-76,per 10CFR140 Changes,Re Liability Insurance Increase from $140 Million to $160 Million,Effective 790501.Supporting Documentation Encl

ML17206A792
Person / Time
Site:	Saint Lucie
Issue date:	05/01/1979
From:	Saltzman J Office of Nuclear Reactor Regulation
To:	Robert E. Uhrig FLORIDA POWER & LIGHT CO.
References
NUDOCS 7905160198
Download: ML17206A792 (10)

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O UNITEDSTATES NUCLEAR REGULATORYCOMMISSION WASHINGTON, D. C. 20555 MAY y 1979 Docket No. 50-335 REGULATORY DOCI(ET FlLE COPY Florida Power 8 Light Company ATTN:

Mr. Robert E. Uhrig Vice President 9250 Flagler St.

Miami, Florida 33174 Gentlemen:

We are enclosing herewith an amendment to your indemnity agreement dreflecting the changes to 10 CFR Part 140, "Financial Protection Require-ments and Indemnity Agreements," effective May 1, 1979.

The amendments to Part 140, a copy of which is also enclosed, give effect to the increase from $140 million to $160 million in the primary layer of nuclear energy liability insurance provided by the American Nuclear Insurers and Mutual Atomic Energy Liability Underwriters.

We would appreciate your indicating acceptance of the amendment to your indemnity agreement in the space provided and returning one signed copy.

If you have any questions about the foregoing, please contact us.

Sincerely, erome Saltzman, C

f Antitrust & Inde ty Group Office of Nucle Reactor Regulation

Enclosures:

l.

Amendment to Indemnity Agreement 2.

Amendment to 10 CFR Part 140 a905z 60) tg

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Docket No. 50-335 AflENDHENT TO INDEMNITY AGREBIENT NO. B-76 AMENDMENT NO. 5 Effective Hay 1, 1979, Indemnity Agreement No. B-76, between Florida Power 8 Light Company and the Atomic Energy Commission, dated February ll,

1975, as amended, is hereby further amended as follows:

The amount "$140.000,000" is deleted wherever it appears and the amount "$160,000,000" is substituted therefor.

'he amount

"$108,500,000" is deleted wherever it appears and

'he amount "$124,000,000" is substituted therefor.

The amount "$31,500,000" is deleted wherever it appears and the amount "$36,000,000" is substituted therefor.

Item 2a of the Attachment to the indemnity agreement is deleted in its entirety and the following substituted therefor:

Item 2 - Amount of financial protection a.

$1,000,000 (From 12:01 a.m.,

February 11, 1975, to 12 midnight, February 29, 1976, inclusive)

$125,000,000

$140,000,000*

(From 12:01 a.m.,

>larch 1, 1976, to 12 midnight, April 30, 1977, inclusive)

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FOR THE UNITED STATES NUCLEAR REGULATORY COMMISSION 7<l J@O~>F.Sat.TzMw Jerome Saltzman, Chief Antitrust 5 Indemnity Group'ffice of Nuclear Reactor Regulation-Accepted

, 1979 By, FLORIDA POWER 5 LIGHT COMP NY Distribution:

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Federal Register / VoL 44. No. 88 / Friday, April 8. 1979 / Rules and Regulations This document has been reviewed in accordance with FmHA instruction 1901-G, "Environmental Impact Statements." It is the determination of FmHA that this action does not constitute a major Federal action significantly affecting the quality of the human environment and in accordance with the National Environmental Policy of 1969, Pub. L 91-190, an Environmental Impact Statement is not required.

Authodties: [42 US.G 1480. delegation of authority by the Secretary of Agriculture, 7 CFR 223 delegation of authority by the Assistant Secretary for Rural Deveiopmenh /

CFR? 70)

Dated: March 30. 1979.

Conka Covoooosh.

Adminisoococ gorman Haoo Adouaioooooa fhoHAlosuucuoo Soeal fFa Ooc. io-lOMn reod~ aSS aml rnLLnso coos solMIMI NUCLEAR REGULATORY COliIMISSION 10 CFR Part 140 Flnanch) Protection Requirements and

[ndemnlty Agreements; Mlscethneous Amendments AaENcY: U.S. Nuclear Regulatory Commission.

Acnosc Final Rule.

suMMARY. The provisions ofSection 170 of the Atomic Energy Act of 1854, as amended, require production and utilization facilitylicensees to have and maintain financial protection to cover.

public liabilityclaims resulting from a nuclear incident.

The Nuclear Regulatory Commission is amending its regulations to increase the level of the primary layer of financial protection required of certain indemnified licensees. The Commission is amending its regulations at the present time to coincide, as statutorily required, with the increase in the level of the primary layer of insurance provided by private nuc) ear )Iabfiity insurance pools.

EFFEcnvE oATE: May 1, 1879.

~

FOR FURT1fER INFORMATIONCONTACl.

Mr. Ira Dinitz. Antitrust and Indemnity Group, U.S. Nuclear Regulatory Commission, Washington. DC 20555.

(Phone: 301&92-8336).

sUPPLEMENTARY INFoRMATloN: The provisions of Section 1/0 of the Atomic Energy Act of 1954. as amended. (the Act) require production and utilization facilitylicensees to have and maintain financial protection to cover public liabilityc)aims resulting from a nuclear incident. Section 170 of the Act. requires the Nuc)ear Regulatory Commission to indemnify the licensee and other persons indemnified, up to the statutory limitation on liability,against public liabilityc)aims in excess of the amount of financial protection required.

Subsection 170b. of the Act requires that for facilities designed for producing substantial amounts of electricity and

'aving a rated capacity of 100 electrical megawatts or more. the amount of financial protection 'equired shall be the maximum amount available from private sources. For other licensees, the Commission may require lesser amounts of financial pro[ection: Primary financial protection may be in the form of private insurance, private contractual indemnities. self-insurance or other proof of financial responsibility. or combination of such measures.

The insurers who provide the nuc)ear, liabilityinsurance, American Nuclear Insurers (ANI)and Mutual Atomic Energy LiabilityUnderwriters (MAELU),

have advised the Commission that effective January 9. 1979, the maximum amount ofprimary nuclear energy liabilityinsurance available,was increased from $140 million to $180 million.Pursuant to the provisions of subsection 170b..of the Act, thL amount of primary financial protection required for facilities having a rated capacity of 100 electrical megawatts or more willbe increased to $160 million. effective May 1, 1979. In addition, in compliance with 10 CFR Part,140, those persons licensed to possess plutonium in the amount of 5..

kilograms or more and persons))censed to process plutonium in the amount of 1 kilogram or more for use in plutonium processing and fuel fabrication plants willalso be required to provide financial protection in the amount of $180 million.

Since the amendments set out below conform the Commission's regulations to a statutory requirement, the Commission has found that good cause exists for omitting a value/impact analysis. public notice of proposed rule making and public procedure thereon as unnecessary.

, Pursuant to the Atomic Energy Act of 1954, as amended. the Energy Reorganization Act of 1974. as amended.

iThe Ad does nol by Ils piedse language reqube maintenance of a "primary" [Le nudear liability insurance) layer and a "secondary" tLe reuospcctivc premium) layer offinandal protection bul merely considers lhe combination of theat lwo layers as -financial protection." Howevcn le CFR Part ise. of the Conunission's regulations lhal implement the Acl. dislingulshes belween the primary and secondary layers of finandal prolection. The amendments in this ndc relate solely lo increases in lhe primary layer of finandal protection.

and sections 552 and 553 ofTitle 5 of the United States Code, the following amendments to Title 10. Chapter L Part 140. Code ofFederal Regulations, are published as a document subject to c'odification.

g 14tL11

[Amended]

1. Section 140.11(a)(4) is amended by dele ting '$140,000,000" and substituting therefor "$160,000,000."

f 14tL13e

[Amended)

2. Section 140.13a(a) is amended by deleting the term "$140,000,000" and substituting therefor "$160,00[L000."

$ 14tL91

[Amended)

3. In 5 140.91, Appendix A, Condition 4 is amended by revising the footnote to read as follows: "For policies issued by Nuclear Energy Liability-Property Insurance Association the amount will be "$124,000,000'"t for policies issued by Mutual Atomic Energy Liability Underwriters, the amount willbe

"$38,000,000."

4. In g 140.91, Appendix A, paragraph m of the "Optional Amendatory Endorsement" is amended by revising the footnote to read as follows:

"For policies issued by Nuclear Energy Liability-Property Insurance Association the amount willbe "$124,000,000": for policies issued by Mutual Atomic Energy LiabilityUnderwriters the amount willbe "$38,000,000."

f 140.92

[Amendod)

'. Section 140.92, Appendix B, Artie)e ILparagraph 8(a), is amended by deleting the amount '$108,500,000" wherever it appears and substituting therefor "$124,000,000."

B. Section 140.82. Appendix B. Article ILparagraph 8(b), is amended by deleting the amount "$31,500.000" wherever it appears and substituting therefor "$36,000,000."

7. Sectiott 140.92. Appendix B, Artie)e ILparagraph 8(c), is amended by changing the amount "$140,000,000" to

$160,000,000."

fLSection 140.92, Appendix B, Artie)e IILparagraph 4(b)(2), is emended by changing "$140,000.000" to

"$160,000,000."

f 140.93

[Amended)

9. Section 140.93, Appendix C, Article II, paragraph 8, is amended by changing

"$140,000.000" to "$160.000,000."

10. Section 140.93, Appendix C, Artie)e III.paragraph 4(b)(2), is amended by changing "$140.000,000" to

"$160,000,000."

$ 140.94

[Amendedl

11. Sectfon 140.94. Appendix D. Article H. paragraph B. Is amended by changing

"$140,000.000" to "$180.000,000."

II 140.95 IAmendedl

12. Sectfon 140.95, Appendix E, Article IH. paragraph 4(b)(2), is ainended by changing "$140,000,000" to

"$160,000,000."

II 14IL107 (Amended]

13. Section 140.107, Appendix G..l Article H, paragraph 8(a). fs amended by deleting the amount "$108,500,000" wherever it appears and substituting therefor "$124,000,000."

14. Section 140.107, Appendix G.

Article H, paragraph 6(b), is amended by deleting the amount "$31.500.000" wherever it appears and substituting therefor "$36.000,000."

15. Section 140.107, Appendix G.

Article HI, paragraph 8(c), is amended by changing the amount "$140,000,000" to "$160,000,000."

18. Section 140.107, Appendix G,

'rticle HI, paragraph 4(b), is amended by changing the amount "$140,000.000" to "$160,000,000."

$ 14IL108 IAmendedl

17. Section 140.108, Appendix G.

Article H, paragraph 6, is emended by changing the amount "$140.000,000" to

"$160,000,000."

18. Section'140.108, Appendix H, Article HI, paragraph 4(b), is amended

'y changing the amount "$140.000,000" to "$160,000,000."

EFFECTIVE DATRThe foregoing amendments become effective on May 1, 1979.

(Secs. 181, Pub. L 83-703. 88 Stat 948 (42 U8.C. 2201); Sec. 170.'rrb. L 85-258. 71 Slat.

578, Pub..L 94-197. 89 Stat. 1111 (42 U8.C.

2210); Sec. 201. Prrb. L 93-I38, ai amended, 88 Stet.1242. 89 Stat. 415 (42 U.S.C. 5841))

Dated at Washington, D.C, this 2nd day of April1979.

For Ihe Nuclear Regulatory Commission.

Scrawl I. Cbek.

Secretary ofthe Ctetttateetota (FR aoe. re 1ctOa Feed~ ace em I sltlrrto coae reeo41M FEDERAL DEPOSIT INSURANCE CORPORATION 12 CFR Parts 307 and 327 Assumption and Assessment of Deposit Liabilities of Insured Banks; Voluntary Termination of-Insurance Sta'tUs AOENOY: Federal Deposit Insurance Corporation.

ACTIONIFinal rule.

SUMMARY

tTheFederal Deposit Insurance Corporation has decided to revise and amend 5$ 307.3 and 327.2(b)(3) of its regulatians to: (1) implement Sections 304 and 310 of the Financial Institutions Regulatory and Interest Rate Control Act of 1978 (FIRIRCA) which pertain to the assumption and assessment of deposit liabilities of insured banks. and (2) correct an inaccurate reference.

EFFECTIYE oATE: April8. 1979.

FOR FURTHER INFORMATIONCONTACl.

Jerry L Langley, Senfor Attorne'y, Federal Deposit Insurance Corporation, 550 17th Street, N.W., Washington, D.C.

20429, telephone (202) 389-4237.

SUPPLEMENTARY.INFoRMATIoN:Section 304 of FIRIRCA amends Section 8(q) of the Federal Deposit Insurance Act (FDI Act) to provide that whenever the deposit liabilities of an insured bank are assumed by another insured bank, whether by merger. consolidation. or other statutory assumption. ar by contract: (1) the insured status of the bank whose deposits are assumed shall terminate on the date the Corporation receives satisfactory evidence of the assumption; (2) the separate insurance of all insured deposits so assumed shall terminate six months after the date the assumption takes effect or, in the case of any time deposit, the earUest maturity date after the six-manth period; and (3) the continuing bank shall give notice of the assumption to the depositors of the bank whose deposits are assumed within 30 days after the assumption takes effect. Section 307.3 has been revised to implement these provisions and to correct an incorrect cftatfon by changing the reference "lf3043 (s) end (t)" in Section 307.3(b) to "5 304.3 (u) and (v)".

Section 310 of FIRIRCA amends Section 7 of the FDI Act to exclude deposits accumulated for the repayment of personal loans from the definition of deposits for insurance assessment purposes. Section 3272(b)(3) of FDIC's regulations has been amended to aline its aefinition of the term "deposit" for assessment purposes with that of Section 310 of FIRIRCA.

Since the changes are procedural in nature or necessitated by statutory amendment. the Board of Directors of the Federal Deposit Insurance Corporation has determined. under Section 302.8 of its rules and regulations (12 CFR $ 302.8), that notice of, and public participation in, thfs rulemaking Is unnecessary and that good cause exists for the waiver of the 30-day deferral of the effective date for the changes.

Accordingly, 12 CFR 307.3 and 327.2 subparagraph (b) are changed as follows:

PART 307VOLUNTARY TERMINATIONOF INSURANCE STATUS

1. 12 CFR 307.3 is revised to read:

$ 3072 Steps to be taken end records to be furnhrhod the Carporauan where deposits are assumed by another Insured bank.

'a) Whenever the deposit IiabiIMes of an insured bank are assumed by another insured bank, whether by merger, consolidation, or other statutory assumption, or by contract, the continuing bank shall give notice of the assumption to the depositors of the bank whose deposits are assumed within 30 days after the assumption takes effect.e Such notice shall be (1) mailed to each depositor at the depositor's last address ofrecord as shown upon the books of the bank (2) published in not less than two fss'ues of a lacal newspaper of general circulation, and (3) in form substantially as follows:

(Date)

Notice to Depositors:

Please be advised that the deposit Rabilitiee shown on the books of (Name of Assumed Bank)

(City or town)

(State) as of close of bual asian.

ZS-ha e been assumed by the undersigned bank. The insured status of (Name of assumed bank) willterminate at the time provided in section eiql of the Federal Deposit Insurance Aci.

The separate insurance ofita depoelts will therefore terminate at the end of stx months from the above date or. In the case of a time deposit the earliest maturity date after the six.month period.

You are advised that the undersigned bank is an insured bank end that your deposits will continue ta be insured by the Federal Deposit Insurance Corporation in the manner and to the extent provided in said Act.

(Name of Bank)

(Address)

There may be included in such notice any additional information or advice the bank may deem desirable.

'The notice reqntiement doee noi apply to "phantom" bank mereere aa defIned In footnote sa of Secdon 3as.ii(a)IS).

Federal Register /

l. 44. No. 80 / Tuesday. April 24. 1979 / Rules and Regulations 24045 NUCI.EAR REGULATORY COMMISSION 10 CFR Part 140 Financial Protection Requirements and Indemnity Agreements; Miaceganeous Amendments Correction In FR Doc. 79-10853, appearing at page 20832. in the issue of Friday. April

6. 1979, on page 20633 make the followingcorrections:

(1) In the first column in paragraph 15.

in the second line, correct "ArticleIII"to read "ArticleII".

(2) In paragraph

17. in the first line.

correct "Appendix G" to read "Appendix H".

sswsso cooe 150&01-ll DEPARTMENT OF ENERGY 10 CFR Part 205 Administrative Procedures and Sanctions; 1979 Interpretations of the General Counsel AOENCY: Department of Energy.

ACTIoNINotice of Interpretations.

sUMMARY:Attached is the Interpretation issued by the Office of General Counsel of the Department of Energy under 10 CFR Part 205, Subpart F. during the period March 1, 1979. through March 31, 1979.

Appendix 8 identifies those Requests for Interpretation which have been dismissed during the same period.

FOR FURTHER INFORMATIONCONTACT:

Diane Stubbs. Office of General Counsel

~ Department of Energy. 12th &

Pennsylvania Avenue NW., Room 1121.

Washington, D.C. 20461 (202) 633-9070.

SUPPLEMENTARY INFORMATION:

Interpretations issued pursuant to 10 CFR Part 205, Subparl F, are published in the Federal Register in accordance with the editorial and classification criteria set forth in 42 FR 7923 (February

8. 1977). as modified in 42 FR 46270 (September 15. 1977).

These Interpretations depend for their authority on the accuracy of the factual statement used as a basis for the Interpretation (10 CFR 205.84(a)(2)) and may be rescinded or modified at any time ((j 205.85(d)). Only the persons to whom Interpretations are addressed and other persons upon whom Interpretations are served ase entitled to rely on them ((j 205.85(c)). An Interpretation is modified by a subsequent amendment to the regulation(s) or ruling(s) interpreted thereby to the extent that the.

Interpretation is inconsistent with the amended regulation(s) or ruling(s)

(5 205.85(e)). The Interpretations published below are not subject to appeal.

Issued in Washington. D.C. April10. 1979.

gveeasd A. Masaeaua. Is sississons Cenenil Coonsel for tnserpsesossons ond Rolioga 0!fice os aenesol Coonset.

for the sale of motor gasoline would constitute the imposition of 6 more stringent credit term than the credit ierins in effect on May 15. 1973. in violation of I 210.62(a).

The General Allocation and Price Rules. sei forth ai 10 CFR Part 210 and adopted on january 14. 1974. 39 FR 1924 (january 15.

1974). were intended Io sct fonh the provisions applicable to both the Mandatory Petroleum Allocation Regulations (10 CFR Part 211) and the Mandatory Petroleum Price Regulations (10 CFR Pari 212). The allocation and price regulations were adopted to implement the statutory mandate ofSection 4(a) of the Emergency Petroleum Allocation Act of1973 (EPAA). as amended. Pub. L No.93-159 (November 27.

1973).'ection 210.82(a) regulates credit terms as a function of price in recognition of the varying roles that credit and other conditions of sale play in the flow of product.'Section 210.62(al provides in relevant pari:

"Suppliers willdeal with purchasers of an allocated product according to normal business practices in effect during the base period specified in Part 211 for that allocated product. and no supplier may modify any normal business practice so as to result in the circumvention of any provision of this chapter.... Credit terms other than those assaciatert with seasonal credit programs are included as 8 part of the May 15. 1973 price charged to a class of purchaser under Part 212 of this Chapter. Noil.ing in this paragraph shall be construed to require suppliers to sell Io purchasers who do noi arrange proper credit or payment for allocated products. as customarily associated with that class of purchaser...

onMay15.1973....

However. no supplier may require or impose more stringent credit terms or payment schedules on purchasers than those in effect for that class ofpurchaser...

on May 15.

1973....

According to the facts presented by Sinclair. neither at the present time nor on Appendix A-Inicrprctariana To oaic Caieosey Fec No.

RM9 interpretation 1979-5 7'os Sinclair Oil Corporation Regulation Interpretedt 10 CFR 210.62(a)

Code: GCWPlNormal business practices Facts The Sinclair Oil Corporation. a small and independent refiner subject I010 CFR Part 212. Subpart E, markets petroleum products through iis subsidiary. Sinclair Marketing.

Inc. (Sinclair). Since May 1973. Sinclair'4 standard contracts with jobbers and dealers for ihe sale of motor gasoline have required payment in full within 30 days. Payment in full within 10 days has entitled a purchaser to a 1 percent discount on the purchase price.

Sinclair has considered an account outstanding for more than 30 days ta be in default and subject io suit. In that instance.

collection costs would be assignable to the account. At the present time, Sinclair desires to modify its standard contracts forthe sale of motor gasoline ta require a finance charge of one and one. half (1+) percent monthly on the balance of all accounts not paid within 30 days. No other credit terms are Io b' changed.

Issue Does Sinclair's proposal to assess 8 finance charge on all d'cllnquent accounts constitute the imposition of a more stringent credit term than the credit terms in effect on May 15.

1973, within the "meaning of 10 CFR 210.82(a)2 Interpretation For the reasons sei forth below. the Department of Energy (DOE) has determined that Sinclair'5 inclusion of a 14'ercent monthly finance charge on ail accounts noi paid within 30 days in its standard contracts icr9-03'eesae oa cosoosaaon..

Mason5, pnca

'15 US C 751 etsc0 iisrsl

'Since the decision by the Temporary Emergency Court of Appeals in Morat/ion OiI Co. v. FEl. 54r F.A 1140 (TECA 19".6). iticrc can bc no doubt concerning the authority of the Federal Energy Administration (FEA) and iis successor.

the DOF io rcguiaic credit terms incident to the mandatory pcuolcum price regulations. In addition. the DOE haa resolved issues simdar io ihc one presented by Sinclair. concerning whether changes in credit terms arc permissible in view of the provisions of I 210.62(a). Seo Esssson Compony. UZA.. 2 DOE

$60.150 (october 28. Isrs): crystal oilco, 1 FEA

$ 20.161 iociober 8. 19r4). In Oil Fronsit Cusp..

Interpretation 1977-35. 42 FR 54269 (ociobcr 5.

19" l. the DOE found that rcqufring purchasers of motor gasoline io incur for the first time the ad4!ionai cost ol obiainmg In!!era of credit guaraniccing paymcni io Oil Transu would have the effect of imposing a more sinngcni credit term.'han ihc credit terms in effect on slay i5. Isrs. In viola!ion of I 21082(ai. However. ihc DOE haa noi previously considered a case such as the present onc where the proposed chango in credii!erma would apply o'riiy alter ihc purchase price ic duc m full.

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