42 U.S.C. § 2234: Inalienability of licenses

Summary

No license or the right to use or make special nuclear material may be transferred to anyone without the Commission’s written consent after full information shows the transfer is lawful. The Commission may allow mortgages, pledges, or liens on a licensee’s facility, leasehold, or material, and creditors may enforce those claims in court under Commission rules to protect public health and safety and the common defense and security.

Title 42, §2234

The Public Health and Welfare, Source: USLM XML via OLRC

No license granted hereunder and no right to utilize or produce special nuclear material granted hereby shall be transferred, assigned or in any manner disposed of, either voluntarily or involuntarily, directly or indirectly, through transfer of control of any license to any person, unless the Commission shall, after securing full information, find that the transfer is in accordance with the provisions of this chapter, and shall give its consent in writing. The Commission may give such consent to the creation of a mortgage, pledge, or other lien upon any facility or special nuclear material, owned or thereafter acquired by a licensee, or upon any leasehold or other interest to such facility, and the rights of the creditors so secured may thereafter be enforced by any court subject to rules and regulations established by the Commission to protect public health and safety and promote the common defense and security.

Notes & Related Subsidiaries

Editorial Notes

References in Text

This chapter, referred to in text, was in the original “this Act”, meaning act Aug. 1, 1946, ch. 724, as added by act Aug. 30, 1954, ch. 1073, § 1, 68 Stat. 919, known as the Atomic Energy Act of 1954, which is classified principally to this chapter. For complete classification of this Act to the Code, see

Short Title

note set out under section 2011 of this title and Tables.

Amendments

1964—Pub. L. 88–489 inserted “or special nuclear material,” after “lien upon any facility” and substituted “interest in such facility” for “interest in such property”.

§2234 Inalienability of Licenses