2012 US Code
Title 15 - Commerce and Trade
Chapter 47 - CONSUMER PRODUCT SAFETY (§§ 2051 - 2089)
Section 2088 - Financial responsibility
| Publication Title | United States Code, 2012 Edition, Title 15 - COMMERCE AND TRADE |
| Category | Bills and Statutes |
| Collection | United States Code |
| SuDoc Class Number | Y 1.2/5: |
| Contained Within | Title 15 - COMMERCE AND TRADE CHAPTER 47 - CONSUMER PRODUCT SAFETY Sec. 2088 - Financial responsibility |
| Contains | section 2088 |
| Date | 2012 |
| Laws in Effect as of Date | January 15, 2013 |
| Positive Law | No |
| Disposition | standard |
| Source Credit | Pub. L. 92-573, §41, as added Pub. L. 110-314, title II, §224(a), Aug. 14, 2008, 122 Stat. 3069. |
| Statutes at Large Reference | 122 Stat. 3069 |
| Public Law References | Public Law 92-573, Public Law 110-314 |
Download PDF
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) StudyThe 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) ReportNot 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.)
Disclaimer: These codes may not be the most recent version. The United States Government Printing Office may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the US site. Please check official sources.
