Pub. L. 102-249, tit. II, sec. 201

Sec. 201. (a) Short Title.—This section may be cited as the “Non-Vessel-Operating Common Carrier Act of 1991”. (b) Prohibited Acts.—Section 10(b) of the Shipping Act of 1984 (46 U.S.C. App. 1709(b)) is amended— (1) in paragraph (14), by inserting “, insurance, or other surety” after “bond”; and (2) in paragraph (15), by inserting “, insurance, or other surety” after “bond”. (c) Surety for NVOCC’s.—Section 23 of the Shipping Act of 1984 (46 U.S.C. App. 1721), is amended— (1) in the section heading by striking “bonding of” and inserting in lieu thereof “surety for”; (2) by amending subsection (a) to read as follows: “(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.”; (3) by striking subsection (b) and redesignating subsections (c) through (e) as subsections (b) through (d), respectively; (4) in subsection (b), as so redesignated— (A) by striking “bond” in the subsection heading and inserting in lieu thereof “Surety”; 106 STAT. 61 (B) by inserting “, insurance, or other surety” after “bond”; and (C) by inserting “under this Act” after “transportation-related activities”; and (5) in subsection (d), as so redesignated— (A) by inserting “, insurance, or other surety” after “bond”; and (B) by striking “subsection (d)” and inserting in lieu thereof “subsection (c)”. (d) Interim Rules and Regulations.—The Federal Maritime Commission may prescribe interim rules and regulations necessary to carry out the amendments made by this section. (e) Conforming Amendment.—The item relating to section 23 in the table of contents in the first section of the Shipping Act of 1984 is amended by striking “Bonding of” and inserting in lieu thereof “Surety for”. (f) Effective Date.—This section shall become effective 90 days after the date of its enactment.