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15 U.S.C. · Commerce and Trade
15 U.S.C. § 2088

Financial responsibility

Ch. 47 — CONSUMER PRODUCT SAFETY
Title 15 U.S.C. ● ACTIVE Primary Source Ch. 47
Statutory Text

15 U.S.C. § 2088 — Financial responsibility

U.S.C. Title 15 - COMMERCE AND TRADE 15 U.S.C. United States Code, 2023 Edition Title 15 - COMMERCE AND TRADE CHAPTER 47 - CONSUMER PRODUCT SAFETY Sec. 2088 - Financial responsibility From the U.S. Government Publishing Office, www.gpo.gov

§2088. Financial responsibility

(a) Identification and determination of bond The Commission, in consultation with U.S. Customs and Border Protection and other relevant Federal agencies, shall identify any consumer product, or other product or substance that is regulated under this chapter or any other Act enforced by the Commission, for which the cost of destruction would normally exceed bond amounts determined under sections 1623 and 1624 of title 19 and shall recommend to U.S. Customs and Border Protection a bond amount sufficient to cover the cost of destruction of such products or substances. (b) Study of requiring escrow for recalls and destruction of products (1) Study The Comptroller General shall conduct a study to determine the feasibility of requiring— (A) the posting of an escrow, proof of insurance, or security sufficient in amount to cover the cost of destruction of a domestically-produced product or substance regulated under this chapter or any other Act enforced by the Commission; and (B) the posting of an escrow, proof of insurance, or security sufficient in amount to cover the cost of an effective recall of a product or substance, domestic or imported, regulated under this chapter or any other Act enforced by the Commission. (2) Report Not later than 180 days after August 14, 2008, the Comptroller General shall transmit to the appropriate Congressional committees a report on the conclusions of the study required under paragraph (1), including an assessment of whether such an escrow requirement could be implemented and any recommendations for such implementation.

(Pub. L. 92–573, §41, as added Pub. L. 110–314, title II, §224(a), Aug. 14, 2008, 122 Stat. 3069.)

Source: uscode.house.gov — public domain Official Source ↗
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15 U.S.C. § 2088
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The statutory text of 15 U.S.C. § 2088 is reproduced from the official United States Code as published by the Office of the Law Revision Counsel of the U.S. House of Representatives (uscode.house.gov).
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Ch. 47 — CONSUMER PRODUCT SAFETY
15 U.S.C. § 205115 U.S.C. § 205215 U.S.C. § 205315 U.S.C. § 2053a15 U.S.C. § 205415 U.S.C. § 205515 U.S.C. § 2055a15 U.S.C. § 205615 U.S.C. § 2056a15 U.S.C. § 2056b15 U.S.C. § 2056c15 U.S.C. § 2056d15 U.S.C. § 2056e15 U.S.C. § 2056f15 U.S.C. § 205715 U.S.C. § 2057a15 U.S.C. § 2057b15 U.S.C. § 2057c15 U.S.C. § 2057d15 U.S.C. § 2057e15 U.S.C. § 205815 U.S.C. § 205915 U.S.C. § 206015 U.S.C. § 206115 U.S.C. § 206215 U.S.C. § 206315 U.S.C. § 206415 U.S.C. § 206515 U.S.C. § 206615 U.S.C. § 2067
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