agreement.
Waiver.
Lia
ins
e.
Pub. Law 85-256
71 Stat. 577.
-2-
September 2, 1957
shall require in accordance with subsection 170 b. to cover public Indemnification liability claims. Whenever such financial protection is required, it shall be a further condition of the license that the licensee exc- cute and maintain an indemnification agreement in accor lance with subsection 170 c. The Commission may require, as a further condition of issuing a license, that an applicant waive any im- munity from public liability conferred by Federal or State law. "b. The amount of financial protection required shall be the amount of liability insurance available from private sources, except that the Commission may establish a lesser amount on the basis of criteria set forth in writing, which it may revise from time to time, taking into consideration such factors as the fol- lowing: (1) the cost and terms of private insurance, (2) the type, size, and location of the licensed activity and other factors pertaining to the hazard, and (3) the nature and purpose of the licensed activity: Provided, That for facilities designed for pro- ducing substantial amounts of electricity and having a rated capacity of 100,000 electrical kilowatts or more, the amount of financial protection required shall be the maximum amount available from private sources. Such financial protection anay include private insurance, private contractual indemnities, self insurance, other proof of financial responsibility, or a combina- tion of such measures.
Aggregate indemnity.
Contracts.
Aggregate liability.
"c. The Commission shall, with respect to licenses issued be- tween August 30, 1954, and August 1, 1967, for which it requires financial protection, agree to indemnify and hold harmless the licensee and other persons indemnified, as their interest may appear, from public liability arising from nuclear incidents which is in excess of the level of financial protection required of the licensee. The aggregate indemnity for all persons in- demnified in connection with each nuclear incident shall not exceed $500,000,000 including the reasonable costs of investigat- ing and settling claims and defending suits for damage. Such a contract of indemnification shall cover public liability arising out of or in connection with the licensed activity.
"d. In addition to any other authority the Commission may have, the Commission is authorized until August 1, 1967, to enter into agreements of indemnification with its contractors for the construction or operation of production or utilization facil- ities or other activities under contracts for the benefit of the United States involving activities under the risk of public lia- bility for a substantial nuclear incident. In such agreements of indemnification the Commission may require its contractor to provide and maintain financial protection of such a type and in such amounts as the Commission shall determine to be appro- priate to cover public liability arising out of or in connextion with the contractual activity, and shall indemnify the persons indemnified against such claims above the amount of the financial protection required, in the amount of $500,000,000 including the reasonable costs of investigating and settling claims and defend- ing suits for damage in the aggregate for all persons indemnified in connection with such contract and for each nuclear incident. The provisions of this subsection may be applicable to lump sum as well as cost type contracts and to contracts and projects financed in whole or in part by the Commission.
"e. The aggregate liability for a single nuclear incident of persons indemnified, including the reasonable costs of investi- gating and settling claims and defending suits for damage, shall not exceed the sum of $500,000,000 together with the amount of
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