Section 40903 - Suspension or revocation of license(a) FAILURE TO MAINTAIN QUALIFICATIONS OR TO COMPLY.-The Federal Maritime Commission, after notice and opportunity for a hearing, shall suspend or revoke an ocean transportation intermediary's license if the Commission finds that the ocean transportation intermediary-(1) is not qualified to provide intermediary services; or(2) willfully failed to comply with a provision of this part or with an order or regulation of the Commission.(b) FAILURE TO MAINTAIN BOND, PROOF OF INSURANCE, OR OTHER SURETY.-The Commission may revoke an ocean transportation intermediary's license for failure to maintain a bond, proof of insurance, or other surety as required by section 40902(a) of this title. Pub. L. 109-304, §7, Oct. 6, 2006, 120 Stat. 1539.| HISTORICAL AND REVISION NOTES |
| Revised Section | Source (U.S. Code) | Source (Statutes at Large) |
| 40903 | 46 App.:1718(c). | Pub. L. 98-237, §19(c), Mar. 20, 1984, 98 Stat. 88; Pub. L. 105-258, title I, §116, Oct. 14, 1998, 112 Stat. 1912. |
In subsection (a)(2), the words "lawful" and "rule" are omitted as unnecessary.