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
CFR Part: 
CFR Title: 

Content:
on the occurrence of one of the conditions described in paragraph 3 above or by transfer of the funds held in escrow to another financial assurance mechanism permitted under 10 CFR 50.75(e). Paragraph 6. Powers of the Escrow Agent The only powers and duties of the escrow agent shall be to hold the escrow property and to invest and dispose of it in accordance with the terms of this Agreement. Escrow Account Management The escrow agent shall invest and reinvest the principal and income of the escrow account and keep the escrow account invested as a single fund, without distinction between principal and income, in accordance with general investment policies and guidelines, which the [insert name of licensee] may communicate in writing to the escrow agent from time to time, subject, however, to the provisions of the DG-1348 Revision 1, Appendix A, Page A-4 escrow account; the escrow agent shall discharge its duties with respect to the escrow account solely in the interest of [insert name of licensee] decommissioning obligation and with the care, skill, prudence, and diligence, under the circumstances then prevailing, that persons of prudence, acting in like capacity and familiar with such matters, would use in the conduct of an enterprise of like character and with like aims; except that: (a) Securities or other obligations of the licensee, or any other owner or operator of any nuclear power reactor, or any of their affiliates, subsidiaries, successors, or assigns, as defined in the Investment Company Act of 1940, as amended (15 U. S. C. 80A-2(a)), or in a mutual fund in which at least 50 percent of the fund is invested in the securities of an NRC licensee of a nuclear power plant or parent company whose subsidiary is an owner or operator of a foreign or domestic nuclear power plant, shall not be acquired or held. Investments tied to market indices or other nonnuclear-sector collective, commingled, or mutual funds (i.e., a mutual fund in which less than 50 percent of