10 CFR 50.81, Creditor Regulations

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Creditor regulations


(a) Pursuant to section 184 of the Act, the Commission consents, without individual application, to the creation of any mortgage, pledge, or other lien upon any production or utilization facility not owned by the United States which is the subject of a license or upon any leasehold or other interest in such facility: Provided:

(1) That the rights of any creditor so secured may be exercised only in compliance with and subject to the same requirements and restrictions as would apply to the licensee pursuant to the provisions of the license, the Atomic Energy Act of 1954, as amended, and regulations issued by the Commission pursuant to said Act; and
(2) That no creditor so secured may take possession of the facility pursuant to the provisions of this section prior to either the issuance of a license from the Commission authorizing such possession or the transfer of the license.


(b) Any creditor so secured may apply for transfer of the license covering such facility by filing an application for transfer of the license pursuant to § 50.80(b). The Commission will act upon such application pursuant to § 50.80 (c).


(c) Nothing contained in this regulation shall be deemed to affect the means of acquiring, or the priority of, any tax lien or other lien provided by law.


(d) As used in this section: (1) License includes any license under this chapter, any construction permit under this part, and any early site permit under part 52 of this chapter, which may be issued by the Commission with regard to a facility;

(2) "Creditor" includes, without implied limitation, the trustee under any mortgage, pledge or lien on a facility made to secure any creditor, any trustee or receiver of the facility appointed by a court of competent jurisdiction in any action brought for the benefit of any creditor secured by such mortgage, pledge or lien, any purchaser of such facility at the sale thereof upon foreclosure of such mortgage, pledge, or lien or upon exercise of any power of sale contained therein, or any assignee of any such purchaser.
(3) Facility includes but is not limited to, a site which is the subject of an early site permit under subpart A of part 52 of this chapter, and a reactor manufactured under a manufacturing license under subpart F of part 52 of this chapter.

Federal Register

[[[FR::http://frwebgate.access.gpo.gov/cgi-bin/getpage.cgi?dbname=1961_register&page=9546&position=1%7C26 FR 9546, Oct. 10, 1961]], as amended at [[FR::http://frwebgate.access.gpo.gov/cgi-bin/getpage.cgi?dbname=1967_register&page=2562&position=1%7C32 FR 2562, Feb. 7, 1967]]; [[FR::http://frwebgate.access.gpo.gov/cgi-bin/getpage.cgi?dbname=2007_register&page=49504&position=1%7C72 FR 49504, Aug. 28, 2007]]]

External Links

[[URL::http://www.nrc.gov/reading-rm/doc-collections/cfr/part050/part050-0081.html%7CNRC website 10 CFR 50.81]]