§ 104E-18. Security for emergency response and perpetual maintenance costs. - North Carolina Statutes

§ 104E‑18.  Security foremergency response and perpetual maintenance costs.

(a)        No person shalluse, manufacture, produce, transport, transfer, receive, acquire, own, possessor dispose of radioactive material until that person shall have procured andfiled with the Department such bond, insurance or other security as theCommission may by regulation require. Such bond, insurance or other securityshall:

(1)        Run in favor of theRadiation Protection Fund in the amount of the estimated total cost as establishedby the Commission that may be incurred by the State in any project or activitystated in G.S. 104E‑16, and

(2)        Have as indemnitoron such bond or insurance an insurance company licensed to do business in theState of North Carolina.

(b)        The Commission mayfrom time to time:

(1)        Cause an audit to bemade of any person that insures itself by means of other security as providedfor in subsection (a) above;

(2)        Amend or modify theestimated total cost for security established pursuant to this section; and

(3)        Provide byregulation for the discontinuance of indemnification by one insurer and theassumption thereof by another insurer, as the Commission deems necessary tocarry out the provisions of this Chapter and rules and regulations adopted andpromulgated hereunder.

(c)        Repealed by SessionLaws 2001‑474, s. 4. (1975, c. 718, s. 1; 1981, c. 704, s. 12; 1987, c.850, s. 12; 1987 (Reg. Sess., 1988), c. 1082, s. 11; 2001‑474, s. 4.)