
From the U.S. Code Online via GPO Access
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[Laws in effect as of January 23, 2000]
[Document not affected by Public Laws enacted between
  January 23, 2000 and December 4, 2001]
[CITE: 42USC2348]

 
                 TITLE 42--THE PUBLIC HEALTH AND WELFARE
 
            CHAPTER 24--DISPOSAL OF ATOMIC ENERGY COMMUNITIES
 
            SUBCHAPTER IV--SALES OF PROPERTY FOR PRIVATE USE
 
Sec. 2348. Priority sale of apartment houses


(a) Grantees eligible; priorities; applicability of deduction, financing 
        and indemnity provisions

    The Commission is authorized at Los Alamos to grant to occupants 
project-connected persons, and persons residing in the community both at 
the time of offering of an apartment house for sale and for the 
preceding six months, and to any of the foregoing persons acting 
together, such priority interests and priority rights for the purchase 
of the apartment house as the Commission determines to be fair and 
reasonable: Provided, That a first priority right to purchase may be 
granted only to an occupant or a group of occupants, or an assignee 
(whose membership or ownership is composed of occupants, or project-
connected persons, or persons residing in the community both at the time 
of offering of an apartment house for sale and for the preceding six 
months, or any of the foregoing persons) of the priority interests of 
such occupants, who or which has obtained the priority interest of at 
least 60 per centum of the occupants of the apartment house: Provided 
further, That a second priority right to purchase may be granted only to 
an entity whose membership or ownership consists of occupants, or 
project-connected persons, or persons residing in the community both at 
the time of offering of an apartment house for sale and for the 
preceding six months, or any of the foregoing persons (provided that 
such entity has obtained the priority interest of at least one 
occupant), and whose membership or ownership equals in number, and 
occupies or agrees to occupy, at least 70 per centum of the housing 
units in the apartment house. The 15 per centum deduction specified by 
section 2325(a) of this title, the deduction provided by section 2326(d) 
of this title, the financing provisions of section 2362 of this title, 
and the indemnity provided by sections 2363 to 2366 of this title shall 
be applicable to such priority sales of apartment houses. Priority 
interests granted by the Commission under this section shall be 
transferable as the Commission may by rule or regulation prescribe, but 
no priority right to purchase shall be transferred except as provided by 
section 2333 of this title.

(b) Leasing arrangements by non-participants in apartment house sales; 
        assumption of lessor's obligations

    Any occupant who does not participate in the purchase of an 
apartment house with respect to which a priority right to purchase has 
been granted shall be entitled, at the time of sale by the Commission, 
to a lease for occupancy of his housing unit for a period not to exceed 
fifteen months from the date the property was first offered for sale: 
Provided, That the occupant makes application for such a lease within 30 
days of the grant of such priority to purchase. In selling any apartment 
house with respect to which lease executed under this section is in 
effect, the Commission is authorized to provide for the purchaser to 
assume any or all obligations of the lessor. The Commission in such 
event shall guarantee the lessee's performance of the lease.

(c) Eligibility to participate in priority purchase

    Persons who have purchased, either individually or jointly with 
other persons, a single-family house or duplex house (or a single-family 
unit in a duplex house) at Los Alamos pursuant to a priority right under 
this chapter shall not be eligible to participate in the priority 
purchase of an apartment house.

(d) Rules and regulations

    The Commission is authorized to prescribe by rule or regulation such 
other conditions as it may find necessary or desirable for qualification 
of priority interests and rights for the purchase of an apartment house.

(Aug. 4, 1955, ch. 543, ch. 5, Sec. 58, as added Pub. L. 87-719, 
Sec. 14, Sept. 28, 1962, 76 Stat. 665; amended Pub. L. 90-190, Sec. 1, 
Dec. 14, 1967, 81 Stat. 575.)


                               Amendments

    1967--Pub. L. 90-190 redesignated existing provisions as subsec. 
(a), inserted reference to Los Alamos, increased the types of grantees 
eligible to purchase apartment houses from cooperatives, the entire 
membership of which is restricted to project-connected persons, inserted 
provisos which altered the priority right to purchase such apartment 
houses so as to create a first priority and second priority in lieu of 
the provision that the priority with respect to each cooperative shall 
terminate within such time as the Commission may prescribe if the 
cooperative has not obtained 100 per centum initial membership 
consisting of project-connected persons, struck out definition of 
``cooperative'' as used in this section as a corporation or a trust of 
the character described in section 1715e(a)(1) of title 12, and added 
subsecs. (b) to (d).

                          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.
