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:
tments 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 and monitoring the progress of investments, and licensees may issue investment guidelines to a trustee or investment manager. However, licensees should avoid active day-to-day management of these funds. In this regard, if a trustee is unable to act as an investment manager, use of a professional investment manager may be necessary. A licensee or its affiliate may act as an investment manager in the case of passive fund management of trust funds, where management is limited to investments tracking market indices. For example, a licensee may maintain a fund that purchases and sells equities in order to track the Standard & Poor’s 500 Index. Such passive funds may make direct investments in securities or obligations of the licensee for the trust (or its affiliates) or of other reactor licensees (or their affiliates), provided that such investments are consistent with the requirements to track the applicable index and are consistent with NRC restrictions and other regulatory requirements. 2.2.3.2 For nonelectric-utility licensees, the trust agreement must prohibit investments in securities or other obligations of the licensee (the grantor) or any other owner or operator of any nuclear power reactor as well as their affiliates, subsidiaries, successors, or assigns. An affiliate is any company that controls, is controlled by, or is under common control with the licensee or any other owner or operator of the facility. A subsidiary is any company that is owned or controlled directly or indirectly by the licensee or any other owner or operator of the facility. A successor or assign is a DG-1348 Revision 1, Page 19 company that has acquired possessory rights to the licensee, the facility, or any other owner or operator of the facility. The trust agreement also must prohibit