ML20002A374
| ML20002A374 | |
| Person / Time | |
|---|---|
| Site: | Yankee Rowe |
| Issue date: | 08/14/1978 |
| From: | Saltzman J Office of Nuclear Reactor Regulation |
| To: | Fitzgerald R YANKEE ATOMIC ELECTRIC CO. |
| References | |
| NUDOCS 8011140665 | |
| Download: ML20002A374 (3) | |
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UNITED STATES NUCt. EAR REGULATORY COMMisslON -
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Docket No. 50-29 m..
AliG 141976
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Yankee Atomic Electric Company
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ATTN: Mr. R. L. Fitzgerald Treasurer
~.7 20 Turnpike Road Westborough, MA 01581 Gentlemen:
We are enclosing herewith an amendment to your indemnity agreement
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reflecting a change in 10 CFR Part 140, " Financial Protection Require-ments and Indemnity Agreements." The amendment to Part 140, which was effective on August 1,1977, adds a new " Article VIII" to 5 140.92.
This article establishes procedures that the Commission would utilize to recover retrospective premiums paid by the Government on behalf of g
defaulting licensees.
We would appreciate your indicating your acceptance of the amendment to
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your indemnity agreement in the space provided and returning one signed copy to the undersigned.
Sincerely,
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Jerome Saltzman, Chief Antitrust & Indemnity Group Office of Nuclear Reactor Regulation
Enclosure:
Amendment to Indemnity Agreement V Q.-
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a Docket No. 50-29 A!!EliDMENT TO INDEMNITY AGREEI1ENT (10. B-17 AME!!DitENT !!O.11 Effective August 1,1977, Indemnity Agreement No. B-17, between Yankee Atomic Electric Company, and the Atomic Energy Coar.ission, dated February 14, 1962, 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
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Cormission reserves the right to pay those premiums on behalf 1
of the licensee and to recover the amount of such premiu=s H
from the licensee.
"2.
The Cormission shall require the imediate submission of financial statements by those licensees who indicate, after an assessmer.t of the retrospective premium by the insurance pools, tnat they will not pay the assessment.
Such financial stater 2nts shall include, as a minimum, exhibits indicating
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internally generated funds from operations and accumulated
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retained earnings. Subsequent submission of financial statenents by such licensees may be requcsted by the Commission,.as required.
"3.
If premiums are paid by the Comission as provided in paragraph i
1, payment by the Comission shall create a lien in the acount paid in favor of the United States upon all ;,roperty and rights to property, whether real or personal, belonging to such licensee. The lien shall arise at the time payment is made by the Comission and shall intinue 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 anount has been fully satisfied or has become legally unenforceable.
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r-MCTORM 318 (9-76) NRCM 0240 W u: s. oovannue
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If the Commission determines that the licensee is financially
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able to reimburse the Comission for a deferred premium payment
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made in its behalf, and the licensee, after notice of such determination by the Comission fails to make such reimbursement
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within 120 days, the Commission will take appropriate steps to
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suspend the license for 30 days.
The Commission may take any further action as necessary if reimbursement is not made within the 30-day suspension period including, but not limited
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to, termination of the operating license."
FOR THE UNITED STATES NUCLEAR REGULATORY C0!UilSSION
/sz JEROME SALTZMAN 1
t' Jerome Saltzman, Chief Antitrust and Indemnity Group
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Office of Nuclear Reactor Regulation
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Accepted 1978 By YMKEE ATOMIC ELECTRIC COMPANY Distribution:
Licensee (2)
LPDR PDR Docker Files Desk Indemnity IDinitz Reading AIG Reading
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