Texas Health and Safety Code 401.2085 – Review of Financial Assurance
(a) The commission shall conduct a review of the adequacy of the financial assurance mechanisms of the compact waste disposal facility license holder that were approved by the commission before January 1, 2011, against projected post-closure costs, including a review of the adequacy of funds for unplanned events. The review shall consider:
(1) the segregation of financial assurance funds from other funds;
(2) the degree of risk that the financial instruments are subject to financial reversal;
(3) potential post-closure risks associated with the compact waste disposal facility; and
(4) the adequacy of the financial instruments to cover the state’s liabilities.
(b) Not later than December 1, 2012, the commission shall submit a final report of the results of the review to the standing committees of the senate and the house of representatives with jurisdiction over the disposal of low-level radioactive waste.
Terms Used In Texas Health and Safety Code 401.2085
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.