§2297h–2 Method of Sale

Summary

The Board of Directors must, with the approval of the Secretary of the Treasury, transfer the Corporation’s assets and obligations to the private company created under section 2297h–3. The transfer can be done by a merger under the private company’s State law. The Board must pick the transfer method and set terms that give the Treasury the most money and help the new company stay viable, keep the gaseous diffusion plants running, and protect U.S. uranium mining and enrichment interests. The Secretary of the Treasury must not allow privatization unless, before the sale date, the Secretary finds the transfer will provide the maximum proceeds consistent with the principles in section 2297h–1(a). Any sale of the private company’s securities must follow the Securities Act of 1933 (15 U.S.C. 77a et seq.), the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.), and applicable State laws. Privatization expenses must be paid from the Corporation’s revenue accounts in the U.S. Treasury.