32.1-232 - Radioactive Material Perpetual Care Trust Fund.
§ 32.1-232. Radioactive Material Perpetual Care Trust Fund.
A. The Board may require a licensee to deposit funds on an annual basis in atrust fund which shall be known as the Radioactive Material Perpetual CareTrust Fund, when the Board determines that it is probable that the licenseemay cease to operate a licensed facility thereby leaving a site containing orassociated with licensable radioactive material which will requiremaintenance, surveillance or other care on a continuing basis.
B. In order to provide for such maintenance, surveillance or other care, theBoard may acquire any such site pursuant to § 32.1-230.
C. The Board may by lease with or license to any person provide for themaintenance, surveillance or other care of any such site. Any lessee orlicensee operating under the provisions of this section shall be subject to §32.1-231.
D. Each deposit of funds required of a licensee shall be in such amount thatinterest on the sum of all funds reasonably anticipated as payable by suchlicensee shall provide an annual amount equal to the anticipated reasonablecosts necessary to maintain, monitor and otherwise supervise and care for thesite as required in the interest of public health and safety. In arriving atthe amount of funds to be deposited, the Board shall consider the nature ofthe licensed material, size and type of activity, estimated future receiptsand estimated future expenses of maintenance, monitoring, and supervision.
E. All accrued interest on funds deposited in the Radioactive MaterialPerpetual Care Trust Fund is hereby appropriated to the Board and may beexpended by the Board to acquire, monitor, maintain, supervise and care forsuch sites as required to protect the public health and safety on acontinuing basis.
F. If a person licensed by any government agency other than the Commonwealthdesires to transfer a site to the Board for the purpose of administering orproviding perpetual care and if the Board accepts such transfer, a lump-sumdeposit shall be made to the Perpetual Care Trust Fund. The amount of suchdeposit shall be determined by the Board taking into consideration thefactors stated in subsection D of this section.
(Code 1950, § 32-414.4:2; 1976, c. 652; 1979, c. 711.)