U.S. Code > Title 46 Shipping > Subtitle IV—Regulation of Ocean Shipping (§§ 40101—44106) > Part A—Ocean Shipping (§§ 40101—41309) > CHAPTER 409—OCEAN TRANSPORTATION INTERMEDIARIES (§§ 40901—40904) > § 40903. Suspension or revocation of license

§ 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.