§2297c–3. Capital structure of Corporation
(a) Capital stock
(1) Issuance to Secretary of the Treasury
The Corporation shall issue capital stock representing an equity investment equal to the greater of-
(A) $3,000,000,000; or
(B) the book value of assets transferred to the Corporation, as reported in the Uranium Enrichment Annual Report for fiscal year 1991, modified to reflect continued depreciation and other usual changes that occur up to the transfer date.
The Secretary of the Treasury shall hold such stock for the United States, except that all rights and duties pertaining to management of the Corporation shall remain vested in the Board.
(2) Restriction on transfers of stock by United States
The capital stock of the Corporation shall not be sold, transferred, or conveyed by the United States, except to carry out the privatization of the Corporation under section 2297d–1 of this title.
(3) Annual assessment
The Secretary of the Treasury shall annually assess the value of the stock held by the Secretary under paragraph (1) and submit to the Congress a report setting forth such value. The annual assessment of the Secretary shall be subject to review by an independent auditor.
(b) Payment of dividends
The Corporation shall pay into miscellaneous receipts of the Treasury of the United States or such other fund as is provided by law, dividends on the capital stock, out of earnings of the Corporation, as a return on the investment represented by such stock. Until privatization occurs under section 2297d–1 of this title, the Corporation shall pay as dividends to the Treasury of the United States all net revenues remaining at the end of each fiscal year not required for operating expenses or for deposit into the Working Capital Account established in section 2297b–15 of this title.
(c) Prohibition on additional Federal assistance
Except as otherwise specifically provided in this division, the Corporation shall receive no appropriations, loans, or other financial assistance from the Federal Government.
(d) Sole recovery of unrecovered costs
Receipt by the United States of the proceeds from the sale of stock issued by the Corporation under subsection (a)(1) of this section, and the dividends paid under subsection (b) of this section, shall constitute the sole recovery by the United States of previously unrecovered costs (including depreciation and imputed interest on original plant investments in the Department's gaseous diffusion plants) that have been incurred by the United States for uranium enrichment activities prior to the transition date.
(Aug. 1, 1946, ch. 724, title II, §1404, as added Oct. 24, 1992,
Section Referred to in Other Sections
This section is referred to in section 2297b–9 of this title.