ML19320A322
| ML19320A322 | |
| Person / Time | |
|---|---|
| Site: | Arkansas Nuclear  |
| Issue date: | 08/14/1974 |
| From: | Saltzman J Office of Nuclear Reactor Regulation |
| To: | Phillips J ARKANSAS POWER & LIGHT CO. |
| References | |
| 790814, NUDOCS 8005010816 | |
| Download: ML19320A322 (3) | |
Text
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-'*4 NUCLEAR REGULATORY COMMISSION wassincrow.o.c.2csss s.;w4 AUG 141979 Docket Nos. 50-313 50-368 Arkansas Power and Light Company J. D. Phillips Senior Vice President Production and Transmission P. O. Box 551 Little Rock, Arkansas 72203 4
Gentlemen:
We are enclosing herewith an amendment to your indemnity agreement reflecting a change in 10 CFR Part 140, " Financial Protection Requirements and Indemnity Agreements." The amendment to Part 140, which was effective on August 1,1977, adds a new " Article VIII" to 1 140.92. This article establishes procedures that the Commission would utilize to recover retrospective premiums paid by the Government on behalf of defaulting licensees.
We would appreciate your indicating your acceptance of the amendment to your indemnity agreement in the space provided and returning one signed copy to the undersigned.
Sincerely, deromeSaltzman, Chief [
Antitrust & Indemnity / Group Nuclear Reactor Regylation
Enclosure:
Amendment to Indemnity Agreement 0
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Docket Nos. 50-313 50-368 AMENDMENT TO INDEMNITY AGREEMENT NO. B-65 AMENDMENT NO. 7 Effective August 1,1977, Indemnity Agreement No. B-65, between Arkansas Power & Light Company, and the Atomic Energy Commission dated November 8, 1972, as amended, is hereby further amended. by adding a new Article VIII to read as follows:
" ARTICLE VIII "1.
If the licensee fails to pay assessed deferred premiums, the Commission reserves the right to pay those premiums on behalf of the licensee and to recover the amount of such premiums from the licensee.
"2.
The Commission shall require the immediate submission of financial statements by those licensees who indicate, after an assessment of the retrospective premium by the insurance pools, that they will not pay the assessment.
Such financial statements shall include, as a minimum, exhibits indicating internally generated funds from operations and accumulated retained earnings.
Subsequent submission of financial statements by such licensees may be requested by the Commission, as required.
" 3.
If premiums are paid by the Commission as provided in paragraph 1, payment by the Commission shall create a lien in the amount paid in favor of the United States upon all property and rights to property, whether real or personal, beionging to such licensee.
The lien shall arise at the time payment is made by the Commission and shall continue until the liability for the amount (or a judgment against the licensee arising out of such liability) is satisfied or becomes unenforceable.
The Commission will issue a certificate of release of any such lien if it finds that the liability for the amount has been fully satisfied or has become legally unenforceable.
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O Docket Hos. 50-313 50-368 AME!!DMEitT TO INDEMNITY AGREEMEitT li0. B-65 AtlEllDMEilT NO. 7 Effective August 1,1977, Indemnity Agreement No. B-65, between Arkansas Power & Light Company, and the Atomic Energy Commission dated Hovember 3, 1972, as amended, is hereby further amended by adding a new Article VIII to read as follows:
" ARTICLE VIII "1.
If the licensee fails to pay assessed deferred premiums, the Commission reserves the right to pay those premiums on behalf of the licensee and to recover the amount of such premiums from the licensee.
"2.
The Commission shall require the immediate submission of financial statements by those licensees who indicate, after an assessment of the retrospective premium by the insurance pools, that they will not pay the assessment. Such financial statements shall include, as a minimum, exhibits indicating internally generated funds from operations and accumulated retained earnings. Subsequent submission of financial statements by such licensees may be requested by the Commission, as required.
"3.
If premiums are paid by the Commission as provided in paragraph 1, payment by the Commission shall create a lien in the amount paid in favor of the United States upon all property and rights to property, whether real or personal, belonging to such licensee. The lien shall arise at the time payment is made by the Commission and shall continue until the liability for the amount (or a judgment against the licensee arising out of such liability) is satisfied or becomes unenforceable. The
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Commission will issue a certificate of release of any such lien if it finds that the liability for the amount has been fully satisfied or has become legally unenforceable.
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