68-202-402 - Specific licensee bond Additional requirements Private ownership or operation.
68-202-402. Specific licensee bond Additional requirements Private ownership or operation.
(a) The commissioner may require the posting of a bond by an existing specific licensee by amendment to an existing license or by a person making application for a new specific license to assure the availability of funds to the state in the event of abandonment, insolvency or other inability of the specific licensee to meet the requirements of the commissioner regarding a public health hazard created by the presence of radioactive sources at a site occupied by the licensee or formerly under its possession, ownership or control. The commissioner is authorized to establish by rule or regulation, or order based upon such rule or regulation, the bonding requirements by classes of specific licensees and by range of monetary amounts. In establishing such requirements, the commissioner shall give due consideration to the probable extent of contamination, the amount of possible property damage, the costs of removal and disposal of sources of radiation used by the specific licensee, the costs of reclamation of the property in the event of abandonment, insolvency, or other inability of the specific licensee to perform such services to the satisfaction of the commissioner.
(b) In the event it is determined that there is a reasonable probability that a licensed facility will eventually cease to operate while containing, storing, or otherwise possessing radioactive sources on the premises which will require continuing and perpetual care or surveillance over the facility to protect the public health, safety, or welfare, the commissioner may require a specific licensee to deposit sums, in addition to posting bond, in such amounts and under such circumstances as the commissioner shall determine as necessary by rule, regulation, or order based upon such rule or regulation, in a trust fund maintained as the perpetual care trust fund in the name of the state. In establishing such additional requirements, the commissioner shall give due consideration to the nature of the licensed radioactive material, the size and type of facility to be decommissioned, and the anticipated expenses of perpetual care and surveillance.
(c) No private person shall be precluded by reason of criteria established under subsections (a) and (b) from ownership or operation of facilities containing, storing or otherwise possessing radioactive sources where such person can provide assurance of financial responsibility and continuity of operation consistent with the degree and duration of risks associated with the possession of radioactive sources. The commissioner is authorized to promulgate rules and regulations to establish criteria for determining adequacy of assurance of financial responsibility and continuity of operation.
[Acts 1976, ch. 475, § 2; T.C.A., § 53-3324; Acts 1985, ch. 109, § 1; T.C.A., § 68-23-402.]