2014 US Code
Title 42 - The Public Health and Welfare (Sections 1 - 18445)
Chapter 23 - Development and Control of Atomic Energy (Sections 2011 - 2297h-13)
Division B - United States Enrichment Corporation (Sections 2297 - 2297h-13)
Subchapter VIII - United States Enrichment Corporation Privatization (Sections 2297h - 2297h-13)
Sec. 2297h-3 - Establishment of private corporation

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Metadata
Publication TitleUnited States Code, 2012 Edition, Supplement 2, Title 42 - THE PUBLIC HEALTH AND WELFARE
CategoryBills and Statutes
CollectionUnited States Code
SuDoc Class NumberY 1.2/5:
Contained WithinTitle 42 - THE PUBLIC HEALTH AND WELFARE
CHAPTER 23 - DEVELOPMENT AND CONTROL OF ATOMIC ENERGY
Division B - United States Enrichment Corporation
SUBCHAPTER VIII - UNITED STATES ENRICHMENT CORPORATION PRIVATIZATION
Sec. 2297h-3 - Establishment of private corporation
Containssection 2297h-3
Date2014
Laws In Effect As Of DateJanuary 5, 2015
Positive LawNo
Dispositionstandard
Source CreditPub. L. 104-134, title III, §3105, Apr. 26, 1996, 110 Stat. 1321-337.
Statutes at Large Reference110 Stat. 1321-337
Public and Private LawPublic Law 104-134

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42 U.S.C. § 2297h-3 (2014)
§2297h–3. Establishment of private corporation(a) Incorporation

(1) The directors of the Corporation shall establish a private for-profit corporation under the laws of a State for the purpose of receiving the assets and obligations of the Corporation at privatization and continuing the business operations of the Corporation following privatization.

(2) The directors of the Corporation may serve as incorporators of the private corporation and shall take all steps necessary to establish the private corporation, including the filing of articles of incorporation consistent with the provisions of this subchapter.

(3) Employees and officers of the Corporation (including members of the Board of Directors) acting in accordance with this section on behalf of the private corporation shall be deemed to be acting in their official capacities as employees or officers of the Corporation for purposes of section 205 of title 18.

(b) Status of private corporation

(1) The private corporation shall not be an agency, instrumentality, or establishment of the United States, a Government corporation, or a Government-controlled corporation.

(2) Except as otherwise provided by this subchapter, financial obligations of the private corporation shall not be obligations of, or guaranteed as to principal or interest by, the Corporation or the United States, and the obligations shall so plainly state.

(3) No action under section 1491 of title 28 shall be allowable against the United States based on actions of the private corporation.

(c) Application of post-Government employment restrictions

Beginning on the privatization date, the restrictions stated in section 207(a), (b), (c), and (d) of title 18 shall not apply to the acts of an individual done in carrying out official duties as a director, officer, or employee of the private corporation, if the individual was an officer or employee of the Corporation (including a director) continuously during the 45 days prior to the privatization date.

(d) Dissolution

In the event that the privatization does not occur, the Corporation will provide for the dissolution of the private corporation within 1 year of the private corporation's incorporation unless the Secretary of the Treasury or his delegate, upon the Corporation's request, agrees to delay any such dissolution for an additional year.

(Pub. L. 104–134, title III, §3105, Apr. 26, 1996, 110 Stat. 1321–337.)

CODIFICATION

Section was enacted as part of the USEC Privatization Act and also as part of the Omnibus Consolidated Rescissions and Appropriations Act of 1996, and not as part of the Atomic Energy Act of 1954 which comprises this chapter.

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