Document: NRC Regulatory Guide
Document ID: 8ebf2253-f3d2-4bcd-ac80-7cbf6ab8d420
Document Type: regulatory_guide
Title: Assuring the Availability of Funds for Decommissioning Nuclear Reactors + HISTORY –HISTORY 02/2022 – DG-1348 Revision 1, Proposed Revision 3 06/2018 – DG-1348 , Proposed Revision 3 11/2016 – Periodic Review of Revision 2 – Reviewed with no issues identified 01/2011 – DG-1229 , Proposed Revision 2 05/2001 – DG-1106 , Proposed Revision 1 05/1989 – DG-1003 , Proposed Revision 0 (Rev. 1)
Source: NRC Regulatory Guide Division 1
Source URL: https://www.nrc.gov/docs/ML2134/ML21347A081.pdf
Revision Date: 2023-05
Chapter: 
Section ID: RG-1.159
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CFR Title: 

Content:
ge of the provisions related to withdrawals from the trust; changes related to the beneficiary; changes related to the duration or term of the trust; changes that could affect the ability of the trust agreement to provide reasonable assurance of decommissioning funds; and changes to the terms of providing information to the NRC. Modifications that are not material include, for example, changes in fee structures paid to a trustee; changes in arbitration provisions between the trustee and the licensee; changes in investment advisor or investment manager, if applicable; and changes in investments, provided the changes comply with other aspects of the regulations. 2.2.3 The trust agreement should specify that the trustee’s obligations, or obligations of one or more investment managers, with respect to investments, include: (1) day-to-day management of the trust, guided by general investment instructions provided by the licensee or the licensee’s designated investment manager; (2) the obligation of the trustee and/or investment manager to ensure that trust investments are made pursuant to an applicable standard of care, whether in investing or otherwise, required by state or federal law or regulation, or in the absence of such standard, a “prudent investor” standard as set forth in 18 CFR 35.32(a)(3) or any successor regulation; and (3) the obligation of the trustee and/or investment manager, if applicable, to avoid specifically prohibited investments, as described below. 2.2.3.1 The requirement that the trust should not be under the “administrative control of the licensee” will be met if day-to-day investment decisions are made by the trustee or investment manager and not by the licensee. Licensees may exercise general management oversight of trust fund investments to the extent allowed under state trust law. The NRC staff recognizes that licensees have legitimate interests and responsibilities in ensuring appropriate investment strategies for these funds