                                 CODE OF VIRGINIA

RADIOACTIVE MATERIAL PERPETUAL CARE TRUST FUND (§ 32.1-232)

A. The Board may require a licensee to deposit funds on an annual basis in a
trust fund which shall be known as the Radioactive Material Perpetual Care Trust
Fund, when the Board determines that it is probable that the licensee may cease
to operate a licensed facility thereby leaving a site containing or associated
with licensable radioactive material which will require maintenance,
surveillance or other care on a continuing basis.

B. In order to provide for such maintenance, surveillance or other care, the
Board may acquire any such site pursuant to &#xA7; 32.1-230.

C. The Board may by lease with or license to any person provide for the
maintenance, surveillance or other care of any such site. Any lessee or licensee
operating under the provisions of this section shall be subject to &#xA7;
32.1-231.

D. Each deposit of funds required of a licensee shall be in such amount that
interest on the sum of all funds reasonably anticipated as payable by such
licensee shall provide an annual amount equal to the anticipated reasonable
costs necessary to maintain, monitor and otherwise supervise and care for the
site as required in the interest of public health and safety. In arriving at the
amount of funds to be deposited, the Board shall consider the nature of the
licensed material, size and type of activity, estimated future receipts and
estimated future expenses of maintenance, monitoring, and supervision.

E. All accrued interest on funds deposited in the Radioactive Material Perpetual
Care Trust Fund is hereby appropriated to the Board and may be expended by the
Board to acquire, monitor, maintain, supervise and care for such sites as
required to protect the public health and safety on a continuing basis.

F. If a person licensed by any government agency other than the Commonwealth
desires to transfer a site to the Board for the purpose of administering or
providing perpetual care and if the Board accepts such transfer, a lump-sum
deposit shall be made to the Perpetual Care Trust Fund. The amount of such
deposit shall be determined by the Board taking into consideration the factors
stated in subsection D of this section.

HISTORY: Code 1950, § 32-414.4:2; 1976, c. 652; 1979, c. 711.