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Co-Authored-By: Claude Opus 4.8 <noreply@anthropic.com>
2026-07-06 10:51:44 -04:00

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LegalText 42 U.S.C. § 2297h9 Ownership limitations us united_states_code code_section 42 THE PUBLIC HEALTH AND WELFARE 23 DEVELOPMENT AND CONTROL OF ATOMIC ENERGY 2297h9 42 U.S.C. § 2297h9 current 119-100 2026-06-26 official https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc42@119-100.zip /us/usc/t42/s2297h9 data/legal/raw/us/code/title-42/usc42.xml 0cf80f39ac951f0e0c8bfb0157a110498a3c1b1053680770dcb74b70bbeaad04 644321055a08eb1f260a6a3e31ac157fa024756abf612a9fd6857e7e400cf24e 63d75a3e6a28879e63134731ca570f3deb90833162512e57119a7b57d0c68b3b 2026-07-04 official
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42 U.S.C. § 2297h9 - Ownership limitations

Text

(a) Securities limitations No director, officer, or employee of the Corporation may acquire any securities, or any rights to acquire any securities of the private corporation on terms more favorable than those offered to the general public—

(1) in a public offering designed to transfer ownership of the Corporation to private investors,

(2) pursuant to any agreement, arrangement, or understanding entered into before the privatization date, or

(3) before the election of the directors of the private corporation.

(b) Ownership limitation Immediately following the consummation of the transaction or series of transactions pursuant to which 100 percent of the ownership of the Corporation is transferred to private investors, and for a period of three years thereafter, no person may acquire, directly or indirectly, beneficial ownership of securities representing more than 10 percent of the total votes of all outstanding voting securities of the Corporation. The foregoing limitation shall not apply to—

(1) any employee stock ownership plan of the Corporation,

(2) members of the underwriting syndicate purchasing shares in stabilization transactions in connection with the privatization, or

(3) in the case of shares beneficially held in the ordinary course of business for others, any commercial bank, broker-dealer, or clearing agency.

(Pub. L. 104134, title III, § 3111, Apr. 26, 1996, 110 Stat. 1321343.)

Notes

Editorial Notes

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.