Page:United States Statutes at Large Volume 94 Part 1.djvu/713

 PUBLIC LAW 96-294—JUNE 30, 1980 That if such purchase from the Corporation is not provided for in the initial joint venture agreement or is not exercised by such concern, or concerns, the Corporation, after an appropriate interval, not to exceed five years after the date of operation of a synthetic fuel project module pursuant to a joint venture agreement, shall dispose of its participation in such agreement pursuant to section 18L (d)(l)(A) For the purposes of this section, the term "sjmthetic fuel project module" means any facility located in the United States which— (i) is of a size smaller than a sjmthetic fuel project; (ii) will, if successful, demonstrate the technical and economic feasibility of the commercial production of S5nithetic fuels; and (iii) can eventually be expanded at the same site into a sjmthetic fuel project. (B) Such term may include the necessarily related transportation or other facilities, equipment, plant, machinery, supplies, other materials, land, and mineral rights as described in section 112(18), (including all limitations and requirements in section 112(18)) associated with a sjoithetic fuel project module. (2) For purposes of this section, the term "joint venture" means an agreement under which the Corporation and one or more persons participate in construction and operation of a synthetic fuel project module: Provided, That the interest of the Corporation in such joint venture shall be in proportion to the relative contribution of the Corporation to the joint venture. (e) The Corporation participation in any joint venture pursuant to this section shall be limited to financial participation only and shall not include any direct role in the construction or operation of the module, other than as provided in subsection (f). Additionally, the Corporation's participation in any joint venture shall, pursuant to partnership law applicable to such joint venture, be limited to limited partnership status. (fKD Nothing in this section shall prohibit the Corporation from negotiating, as part of the joint venture agreement pursuant to this section, such participation of the Corporation in the management decisions of the joint venture as the Board of Directors deems appropriate and necessary pursuant to the Corporation's financial interest in the joint venture. (2) In no event, however, shall the persons in the joint venture agreement be denied the primary responsibility for management of the joint venture. The Corporation shall be liable only to the extent of its contractual commitment to contribute capital to the venture. No additional liability shall ensue even if, and to the extent that, the Corporation were to assume a role which might be construed to constitute the role of a general partner.

94 STAT. 663

"Synthetic fuel project module.'

'Joint venture.'

CONTROL OF ASSETS

SEC. 137. (a) The Corporation may acquire or retain control of a 42 USC 8737. synthetic fuel project only— (1) by foreclosure of a security interest or pursuant to a default under any financial assistance contract; (2) pursuant to section 136 or subsection (b) of this section; or (3) pursuant to subtitle E. (b) The Corporation may acquire control of a synthetic fuel project which, prior to the approval of the comprehensive strategy pursuant

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