{"identifier":"/us/usc/t42/s2297h\u20132","title":42,"num":"\u00a7\u202f2297h\u20132.","heading":"Method of sale","text":"\u00a7\u202f2297h\u20132.\nMethod of sale\n(a)\nAuthorization\nThe Board of Directors of the Corporation, with the approval of the Secretary of the Treasury, shall transfer ownership of the assets and obligations of the Corporation to the private corporation established under\nsection 2297h\u20133 of this title\n(b)\nBoard determination\nThe Board, with the approval of the Secretary of the Treasury, shall select the method of transfer and establish terms and conditions for the transfer that will provide the maximum proceeds to the Treasury of the United States and will provide for the long-term viability of the private corporation, the continued operation of the gaseous diffusion plants, and the public interest in maintaining reliable and economical domestic uranium mining and enrichment industries.\n(c)\nAdequate proceeds\nThe Secretary of the Treasury shall not allow the privatization of the Corporation unless before the sale date the Secretary of the Treasury determines that the method of transfer will provide the maximum proceeds to the Treasury consistent with the principles set forth in\nsection 2297h\u20131(a) of this title\n(d)\nApplication of securities laws\nAny offering or sale of securities by the private corporation shall be subject to the Securities Act of 1933 (\n15 U.S.C. 77a\n15 U.S.C. 78a\n(e)\nExpenses\nExpenses of privatization shall be paid from Corporation revenue accounts in the United States Treasury.","url":"https://projectusc.org/usc/t42/s2297h\u20132.html","content":[{"t":"sec","id":"/us/usc/t42/s2297h\u20132","children":[{"t":"num","text":"\u00a7\u202f2297h\u20132."},{"t":"heading","text":"Method of sale"},{"t":"subsec","id":"/us/usc/t42/s2297h\u20132/a","children":[{"t":"num","text":"(a)"},{"t":"heading","text":"Authorization"},{"t":"content","children":[{"t":"p","text":"The Board of Directors of the Corporation, with the approval of the Secretary of the Treasury, shall transfer ownership of the assets and obligations of the Corporation to the private corporation established under ","children":[{"t":"ref","text":"section 2297h\u20133 of this title","href":"/us/usc/t42/s2297h\u20133","tail":" (which may be consummated through a merger or consolidation effected in accordance with, and having the effects provided under, the law of the State of incorporation of the private corporation, as if the Corporation were incorporated thereunder)."}],"tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"subsec","id":"/us/usc/t42/s2297h\u20132/b","children":[{"t":"num","text":"(b)"},{"t":"heading","text":"Board determination"},{"t":"content","children":[{"t":"p","text":"The Board, with the approval of the Secretary of the Treasury, shall select the method of transfer and establish terms and conditions for the transfer that will provide the maximum proceeds to the Treasury of the United States and will provide for the long-term viability of the private corporation, the continued operation of the gaseous diffusion plants, and the public interest in maintaining reliable and economical domestic uranium mining and enrichment industries.","tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"subsec","id":"/us/usc/t42/s2297h\u20132/c","children":[{"t":"num","text":"(c)"},{"t":"heading","text":"Adequate proceeds"},{"t":"content","children":[{"t":"p","text":"The Secretary of the Treasury shall not allow the privatization of the Corporation unless before the sale date the Secretary of the Treasury determines that the method of transfer will provide the maximum proceeds to the Treasury consistent with the principles set forth in ","children":[{"t":"ref","text":"section 2297h\u20131(a) of this title","href":"/us/usc/t42/s2297h\u20131/a","tail":"."}],"tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"subsec","id":"/us/usc/t42/s2297h\u20132/d","children":[{"t":"num","text":"(d)"},{"t":"heading","text":"Application of securities laws"},{"t":"content","children":[{"t":"p","text":"Any offering or sale of securities by the private corporation shall be subject to the Securities Act of 1933 (","children":[{"t":"ref","text":"15 U.S.C. 77a","href":"/us/usc/t15/s77a","tail":" et seq.), the Securities Exchange Act of 1934 ("},{"t":"ref","text":"15 U.S.C. 78a","href":"/us/usc/t15/s78a","tail":" et seq.), and the provisions of the Constitution and laws of any State, territory, or possession of the United States relating to transactions in securities."}],"tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"subsec","id":"/us/usc/t42/s2297h\u20132/e","children":[{"t":"num","text":"(e)"},{"t":"heading","text":"Expenses"},{"t":"content","children":[{"t":"p","text":"Expenses of privatization shall be paid from Corporation revenue accounts in the United States Treasury.","tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"text","text":"\n"},{"t":"text","text":"\n"}]}]}