§1721. Surety for non-vessel-operating common carriers

(a) Surety

Each non-vessel-operating common carrier shall furnish to the Commission a bond, proof of insurance, or such other surety, as the Commission may require, in a form and an amount determined by the Commission to be satisfactory to insure the financial responsibility of that carrier. Any bond submitted pursuant to this section shall be issued by a surety company found acceptable by the Secretary of the Treasury.

(b) Claims against surety

A bond, insurance, or other surety obtained pursuant to this section shall be available to pay any judgment for damages against a non-vessel-operating common carrier arising from its transportation-related activities under this chapter or order for reparations issued pursuant to section 1710 of this Appendix or any penalty assessed against a non-vessel-operating carrier pursuant to section 1712 of this Appendix.

(c) Resident agent

A non-vessel-operating common carrier not domiciled in the United States shall designate a resident agent in the United States for receipt of service of judicial and administrative process, including subpoenas.

(d) Tariffs

The Commission may suspend or cancel any or all tariffs of a non-vessel-operating common carrier for failure to maintain the bond, insurance, or other surety required by subsection (a) of this section or to designate an agent as required by subsection (c) of this section or for a violation of section 1709(a)(1) of this Appendix.

(Pub. L. 98–237, §23, as added Pub. L. 101–595, title VII, §710(b), Nov. 16, 1990, 104 Stat. 2997 ; amended Pub. L. 102–251, title II, §201(c), Mar. 9, 1992, 106 Stat. 60 .)

Amendments

1992-Pub. L. 102–251, §201(c)(1), substituted "Surety for" for "Bonding of" in section catchline.

Subsec. (a). Pub. L. 102–251, §201(c)(2), amended subsec. (a) generally. Prior to amendment, subsec. (a) read as follows: "Each non-vessel-operating common carrier shall furnish to the Commission a bond in a form and an amount determined by the Commission to be satisfactory to insure the financial responsibility of that carrier, but in any event not less than $50,000."

Subsec. (b). Pub. L. 102–251, §201(c)(3), (4), redesignated subsec. (c) as (b), in heading substituted "surety" for "bond", in text inserted ", insurance, or other surety" after "bond" and "under this chapter" after "transportation-related activities", and struck out former subsec. (b) which read as follows: "A bond submitted pursuant to this section shall be issued by a surety company found acceptable by the Secretary of the Treasury."

Subsec. (c). Pub. L. 102–251, §201(c)(3), redesignated subsec. (d) as (c). Former subsec. (c) redesignated (b).

Subsecs. (d), (e). Pub. L. 102–251, §201(c)(3), (5), redesignated subsec. (e) as (d), inserted ", insurance, or other surety" after "bond", and substituted "subsection (c)" for "subsection (d)". Former subsec. (d) redesignated (c).

Effective Date of 1992 Amendment

Amendment by Pub. L. 102–251 effective 90 days after Mar. 9, 1992, see section 201(f) of Pub. L. 102–251, set out as a note under section 1709 of this title.

Effective Date

Section effective 90 days after Nov. 16, 1990, see section 710(e) of Pub. L. 101–595, set out as an Effective Date of 1990 Amendment note under section 1709 of this Appendix.

Interim Rules and Regulations

Section 201(d) of Pub. L. 102–251 provided that: "The Federal Maritime Commission may prescribe interim rules and regulations necessary to carry out the amendments made by this section [amending this section and section 1709 of this Appendix]."

Section 710(d) of Pub. L. 101–595 provided that: "The [Federal Maritime] Commission may prescribe interim rules and regulations necessary to carry out the amendments made by this section [enacting this section and amending section 1709 of this Appendix]."

Section Referred to in Other Sections

This section is referred to in section 1709 of this Appendix.