2007 Minnesota Statutes

144.1204 SURETY REQUIREMENTS.
    Subdivision 1. Financial assurance required. The commissioner may require an applicant
for a license under section 144.1202, or a person who was formerly licensed by the Nuclear
Regulatory Commission and is now subject to sections 144.1201 to 144.1204, to post financial
assurances to ensure the completion of all requirements established by the commissioner for the
decontamination, closure, decommissioning, and reclamation of sites, structures, and equipment
used in conjunction with activities related to licensure. The financial assurances posted must
be sufficient to restore the site to unrestricted future use and must be sufficient to provide for
surveillance and care when radioactive materials remain at the site after the licensed activities
cease. The commissioner may establish financial assurance criteria by rule. In establishing such
criteria, the commissioner may consider:
(1) the chemical and physical form of the licensed radioactive material;
(2) the quantity of radioactive material authorized;
(3) the particular radioisotopes authorized and their subsequent radiotoxicity;
(4) the method in which the radioactive material is held, used, stored, processed, transferred,
or disposed of; and
(5) the potential costs of decontamination, treatment, or disposal of a licensee's equipment
and facilities.
    Subd. 2. Acceptable financial assurances. The commissioner may, by rule, establish types
of financial assurances that meet the requirements of this section. Such financial assurances may
include bank letters of credit, deposits of cash, or deposits of government securities.
    Subd. 3. Trust agreements. Financial assurances must be established together with trust
agreements. Both the financial assurances and the trust agreements must be in a form and
substance that meet requirements established by the commissioner.
    Subd. 4. Exemptions. The commissioner is authorized to exempt from the requirements of
this section, by rule, any category of licensee upon a determination by the commissioner that an
exemption does not result in a significant risk to the public health or safety or to the environment
and does not pose a financial risk to the state.
    Subd. 5. Other remedies unaffected. Nothing in this section relieves a licensee of a civil
liability incurred, nor may this section be construed to relieve the licensee of obligations to prevent
or mitigate the consequences of improper handling or abandonment of radioactive materials.
History: 1999 c 245 art 2 s 19