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42 U.S.C. § 2366 — Conditions of indemnity; purchase of property by Commission

Federal law — U.S. Code and appendices · legal_authorities

42 U.S.C. § 2366 — Conditions of indemnity; purchase of property by Commission

The Commission shall make the indemnity payment specified by [section 2365 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title42-section2365&num=0&edition=prelim) only if the Commission receives a notice from the then owner of the property that he is about to sell the property for a sum less than the unpaid balance of the real or hypothetical loan calculated pursuant to such section. Such payment shall be made only if— **(a)** notice is given to the Commission at a time when the conditions of [section 2364 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title42-section2364&num=0&edition=prelim) are satisfied; **(b)** the sale is made within such time as the Commission may prescribe and in a manner which the Commission determined to afford adequate assurance of a fair price without excessive costs; and **(c)** the Commission is given such prior notice of the sale and such opportunity to become a purchaser as it shall prescribe. In such circumstances the Commission is authorized to purchase the property. Sales pursuant to this section and payment by the Commission of such amount, if any, as is owing pursuant to sections 2363 to 2366 of this title shall end the obligation of the Commission under sections 2363 to 2366 of this title with respect to that property.

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Source location: Title 42, Chapter 24, § 2366; chapter-024-disposal-of-atomic-energy-communities.md

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Federal law — U.S. Code and appendices · legal_authorities

42 U.S.C. § 2365 — Amount of indemnity

The indemnity obligation of the Commission specified in [section 2363 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title42-section2363&num=0&edition=prelim) shall be for such amount, less the sales price of the property, as would have remained unpaid under a loan entered into on the date of the execution of the original deed by the Commission— (1) which was in the amount of the purchase price from the Commission and provided for equal monthly payments of principal and interest over a period of twenty years computed on the basis of the average interest and other charges recorded for property of the same class at the community; and (2) on which all payments due to the date when notice was received by the Commission had been made.

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Federal law — U.S. Code and appendices · legal_authorities

42 U.S.C. § 2364 — Community employment and population

The indemnity obligation specified in [section 2363 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title42-section2363&num=0&edition=prelim) shall arise only if, for the six months just preceding the date on which it is invoked— **(a)** the total number of operating, maintenance, and administrative employees in the project area, as determined by the Commission, has been less than fourteen thousand three hundred and thirty-seven in the case of Oak Ridge or seven thousand six hundred and twenty-two in the case of Richland or four thousand six hundred and twenty in the case of Los Alamos; and **(b)** the population in the community has been less than twenty-nine thousand two hundred and fifty in the case of Oak Ridge or twenty-five thousand two hundred in the case of Richland or eleven thousand seven hundred and sixty-nine in the case of Los Alamos. For purposes of this section employment shall be determined on the basis of the pay period or periods ending nearest the 15th of each month.

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Federal law — U.S. Code and appendices · legal_authorities

42 U.S.C. § 2310 — Repossession of property; powers of Commission

The Commission is authorized to repossess any property sold by it in accordance with the terms of any contract to purchase, mortgage or other instrument, and to sell or make any other disposition of any property so repossessed and any property purchased by it pursuant to [section 2366 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title42-section2366&num=0&edition=prelim). Notwithstanding any other provision of law relating to the acquisition, handling, or disposal of real property by the United States, the Commission shall have power to deal with, complete, operate, rent, renovate, modernize, insure, or sell for cash or credit, in its discretion, any properties acquired pursuant to this chapter, and to pursue to final collection, by way of compromise or otherwise, all claims arising pursuant to this section: Provided, That expenses authorized by this section shall be considered nonadministrative expenses: Provided further, That [section 6101 of title 41](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title41-section6101&num=0&edition=prelim) shall not apply to any contract entered into pursuant to this section if the amount thereof does not exceed $1,000.

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Federal law — U.S. Code and appendices · legal_authorities

42 U.S.C. § 2366 — Conditions of indemnity; purchase of

Page 5596 TITLE 42—THE PUBLIC HEALTH AND WELFARE § 2366 Statutory Notes and Related Subsidiaries TRANSFER OF FUNCTIONS Atomic Energy Commission abolished and functions transferred by sections 5814 and 5841 of this title. See also Transfer of Functions notes set out under those sections. § 2366. Conditions of indemnity; purchase of property by Commission The Commission shall make the indemnity payment specified by section 2365 of this title only if the Commission receives a notice from the then owner of the property that he is about to sell the property for a sum less than the un- paid balance of the real or hypothetical loan cal- culated pursuant to such section. Such payment shall be made only if— (a) notice is given to the Commission at a time when the conditions of section 2364 of this title are satisfied; (b) the sale is made within such time as the Commission may prescribe and in a manner which the Commission determined to afford adequate assurance of a fair price without ex- cessive costs; and (c) the Commission is given such prior no- tice of the sale and such opportunity to be- come a purchaser as it shall prescribe. In such circumstances the Commission is au- thorized to purchase the property. Sales pursu- ant to this section and payment by the Commis- sion of such amount, if any, as is owing pursu- ant to sections 2363 to 2366 of this title shall end the obligation of the Commission under sections 2363 to 2366 of this title with respect to that property. (Aug. 4, 1955, ch. 543, ch. 6, § 66, 69 Stat. 479.) Statutory Notes and Related Subsidiaries TRANSFER OF FUNCTIONS Atomic Energy Commission abolished and functions transferred by sections 5814 and 5841 of this title. See also Transfer of Functions notes set out under those sections

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