§2088 Financial responsibility

Summary

The Commission must work with U.S. Customs and Border Protection and other federal agencies to find products or substances it regulates whose destruction would usually cost more than the customs bond amounts set under sections 1623 and 1624 of title 19, and recommend to Customs a bond level that would cover those destruction costs. The Comptroller General must study whether companies should be required to post escrow, insurance, or other financial security to pay for destroying domestically made regulated products and to pay for effective recalls of regulated products (made here or imported). Not later than 180 days after August 14, 2008, the Comptroller General must send a report to the appropriate Congressional committees with the study results, an assessment of feasibility, and any recommendations.