Filing of Proof of Financial Responsibility, 40813-40814 [E7-14396]

Download as PDF Federal Register / Vol. 72, No. 142 / Wednesday, July 25, 2007 / Proposed Rules * Elevation in feet (NGVD) + Elevation in feet (NAVD) # Depth in feet above ground Location of referenced elevation Flooding source(s) Effective 40813 Communities affected Modified Send comments to Maureen Heikkinen, Supervisor, Township of Howell, 3525 Byron Road, Howell, MI 48855. Township of Iosco Maps are available for inspection at 2050 Bradley Road, Webberville, MI 48892. Send comments to William C. Miller, Supervisor, Township of Iosco, P.O. Box 1079, Webberville, MI 48892. Township of Marion Maps are available for inspection at 2877 W. Coon Lake Road, Howell, MI 48843. Send comments to Robert Hanvey, Supervisor, Township of Marion, 2877 W. Coon Lake Road, Howell, MI 48843. Township of Oceola Maps are available for inspection at 1577 N. Latson Road, Howell, MI 48843. Send comments to William Bamber, Supervisor, Township of Oceola, 1577 N. Latson Road, Howell, MI 48843. Township of Putnam Maps are available for inspection at 131 S. Howell Street, Pinckney, MI 48169. Send comments to Ron Rau, Supervisor, Township of Putnam, P.O. Box 439, 131 S. Howell Street, Pinckney, MI 48169. Township of Tyrone Maps are available for inspection at 10408 Center Road, Fenton, MI 48430. Send comments to Andrew Schmidt, Supervisor, Township of Tyrone, 10408 Center Road, Fenton, MI 48430. Township of Unadilla Maps are available for inspection at 126 Webb Street, Gregory, MI 48137. Send comments to James Peterson, Supervisor, Township of Unadilla, P.O. Box 120, 126 Webb Street, Gregory, MI 48137. Village of Fowlerville Maps are available for inspection at 213 S. Grand Avenue, Fowlerville, MI 48836. Send comments to Mr. Wayne Copeland, President, Village of Fowlerville, P.O. Box 677, 213 S. Grand Avenue, Fowlerville, MI 48836. Village of Pinckney Maps are available for inspection at 220 S. Howell Street, Pinckney, MI 48169. Send comments to Ms. Rebecca Foster, President, Village of Pinckney, 220 S. Howell Street, Pinckney, MI 48169. Eau Claire County, Wisconsin, and Incorporated Areas Chippewa River .................. Approximately 1,800 feet upstream of county boundary +761 +762 +773 +772 Sherman Creek .................. Approximately 800 feet downstream of Interstate Highway 94. Approximately 1,500 feet upstream of the confluence with the Chippewa River. +778 +777 Approximately 1,800 feet downstream of U.S. Highway 12. +889 Eau Claire County (Unincorporated Areas). +888 City of Eau Claire, Eau Claire County (Unincorporated Areas). * National Geodetic Vertical Datum. + North American Vertical Datum. # Depth in feet above ground. ADDRESSES City of Eau Claire Maps are available for inspection at City of Eau Claire, City Hall, 203 South Farwell Street, Eau Claire, WI 54702–5148. Send comments to Michael Huggins, City Manager, City of Eau Claire, 203 South Farwell Street, City Hall, Third Floor, Eau Claire, WI 54702. Eau Claire County (Unincorporated Areas) Maps are available for inspection at Eau Claire County Courthouse, 721 Oxford Avenue, Eau Claire, WI 54703–5481. Send comments to Bruce Willett, Chairperson, Eau Claire County Board of Supervisors, 721 Oxford Avenue, Eau Claire, WI 54703. mstockstill on PROD1PC66 with PROPOSALS (Catalog of Federal Domestic Assistance No. 97.022, ‘‘Flood Insurance.’’) FEDERAL MARITIME COMMISSION Dated: July 16, 2007. David I. Maurstad, Federal Insurance Administrator of the National Flood Insurance Program, Department of Homeland Security, Federal Emergency Management Agency. [FR Doc. 07–3614 Filed 7–24–07; 8:45 am] 46 CFR Part 515 [Docket No. 07–06] RIN 3072–AC33 Filing of Proof of Financial Responsibility July 20, 2007. BILLING CODE 9110–12–P Federal Maritime Commission. Notice of proposed rulemaking. AGENCY: ACTION: VerDate Aug<31>2005 19:03 Jul 24, 2007 Jkt 211001 PO 00000 Frm 00039 Fmt 4702 Sfmt 4702 SUMMARY: The Federal Maritime Commission proposes to amend its regulations governing the filing of proof of financial responsibility for ocean transportation intermediaries by reducing the amount of time an applicant may have to file the requisite proof of financial responsibility upon approval of applicant’s license application from two (2) years to 120 days. DATES: Submit original and 15 copies of comments (paper), or e-mail comments E:\FR\FM\25JYP1.SGM 25JYP1 mstockstill on PROD1PC66 with PROPOSALS 40814 Federal Register / Vol. 72, No. 142 / Wednesday, July 25, 2007 / Proposed Rules as an attachment in WordPerfect 8, Microsoft Word 2003, or earlier versions of these applications, no later than August 27, 2007. ADDRESSES: Address all comments concerning this proposed rule to: Bryant L. VanBrakle, Secretary, Federal Maritime Commission, 800 N. Capitol Street, NW., Room 1046, Washington, DC 20573–0001, (202) 523–5725, E-mail: secretary@fmc.gov. FOR FURTHER INFORMATION CONTACT: Sandra L. Kusumoto, Director, Bureau of Certification and Licensing, 800 N. Capitol Street, NW., Room 970, Washington, DC 20573–0001, (202) 523– 5787, E-mail: skusumoto@fmc.gov. SUPPLEMENTARY INFORMATION: The Commission’s regulations at 46 CFR 515.25(a) currently state that, upon approval for an ocean transportation intermediary (‘‘OTI’’) license, an applicant must provide valid proof of financial responsibility prior to the issuance of the license by the Commission’s Bureau of Certification and Licensing (‘‘BCL’’). The regulation currently allows an applicant two (2) years in which to furnish such proof of financial responsibility, failing which the application will be considered invalid by the Commission. An extended time period of two (2) years between approval of an OTI application and an applicant’s procurement of financial responsibility has created significant areas of concern for the Commission. First, this may be viewed as an opportunity by applicants who have been deemed approved but who have gone two (2) years without procuring a surety bond to, nonetheless, commence providing OTI services. This result would frustrate the statutory goal of protecting the shipping public. Second, an applicant’s inability or unwillingness to procure a surety bond over the course of two (2) years may be an indication of questionable financial integrity, a key factor in establishing an applicant’s continuing fitness to perform OTI services. Based on a study conducted by BCL staff of new OTI licenses issued in fiscal year 2006, it appears that the greatest majority of qualified applicants did not require two (2) years to procure surety bonds. BCL statistics show that more than half of the qualified applicants obtained surety bonds within 30 days of approval of their applications and 87 percent of the applicants obtained surety bonds in a time period of 120 days or less. The remainder of the applicants, or 13 percent, required between 120 days and two (2) years to obtain surety bonds subsequent to approval of their OTI applications. This VerDate Aug<31>2005 19:03 Jul 24, 2007 Jkt 211001 is an indication that reducing the allotment of time for providing proof of valid financial responsibility is unlikely to be burdensome upon either the industry in general or new OTI applicants in particular. Given the current bonding practices of a significant majority of new OTI applicants, it appears that a time frame in excess of 120 days is unnecessary while creating an opportunity for abuse of the licensing process. Accordingly, the Commission proposes to amend 46 CFR 515.25(a) by reducing the period of time within which an OTI applicant is required to provide the requisite proof of financial responsibility subsequent to approval of the application from two (2) years to 120 days. This would ensure greater efficiency on the part of OTI applicants in complying with financial responsibility requirements following approval of their applications. Upon expiration of the 120-day time period, if valid proof of financial responsibility has not been provided by an applicant, the OTI application would be considered invalid thereby requiring the filing of a new application for an OTI license. In conjunction with the aforementioned amendment, the Commission further proposes to remove as unnecessary the third sentence of 46 CFR 515.25(a) dealing with supplementary investigations for the determination of an applicant’s continued qualification if more than six (6) months elapse between the time of the approval of the application and an applicant’s submission of financial responsibility to the Commission. Removal of the option of supplementary investigations from 46 CFR 515.25(a) likewise necessitates removing paragraph (b)(3) of 46 CFR 515.5 inasmuch as the collection of fees for supplementary investigations would no longer be appropriate. In accordance with the Regulatory Flexibility Act, 5 U.S.C. 601 et seq., the Federal Maritime Commission certifies that the proposed rule, if promulgated, will not have a significant economic impact on a substantial number of small entities. The rule directly applies to the licensing requirements of OTIs, which are regulated persons (or businesses) under the Commission’s jurisdiction that qualify as small entities under the guidelines of the Small Business Administration. The rule will modify the financial responsibility requirements that must be met by persons applying for a license to operate as an OTI. The modifications in the rule will simplify the OTI licensing application process, and increase administrative efficiencies, while PO 00000 Frm 00040 Fmt 4702 Sfmt 4702 further serving to safeguard the shipping public from unlicensed operators. The rule imposes no new or additional cost burden on persons applying for an OTI license, nor will it have a harmful effect on the general public, the U.S. economy, or any of the regulated entities under the jurisdiction of the Commission. List of Subjects in 46 CFR Part 515 Common carriers, Exports, Nonvessel-operating common carriers, Ocean transportation intermediaries, Financial responsibility requirements, Reports and recordkeeping requirements, Surety bonds. Accordingly, the Federal Maritime Commission proposes to amend 46 CFR part 515 as follows: PART 515—LICENSING, FINANCIAL RESPONSIBILITY REQUIREMENTS, AND GENERAL DUTIES FOR OCEAN TRANSPORTATION INTERMEDIARIES 1. The authority citation for part 515 is revised to read as follows: Authority: 5 U.S.C. 553; 31 U.S.C. 9701; 46 U.S.C. 1702, 1707, 1709, 1710, 1712, 1714, 1716, and 1718 (recodified October 2006 as 46 U.S.C. 305, 40102, 40104, 40501–40503, 40901–40904, 41101–41106, 41107, 41108, 41109, 41301–41302, 41305–41307, 42101, 42301–42306, and 42307); Pub. L. 105–383, 112 Stat. 3411, 21 U.S.C. 862. § 515.5 [Amended] 2. In § 515.5, remove paragraph (b)(3). 3. Amend § 515.25(a) by removing the fourth sentence and revising the last sentence to read as follows: § 515.25 Filing of proof of financial responsibility. (a) * * * Should the applicant not file the requisite proof of financial responsibility within 120 days of notification, the Commission will consider the application to be invalid. * * * * * By the Commission. Bryant L. VanBrakle, Secretary. [FR Doc. E7–14396 Filed 7–24–07; 8:45 am] BILLING CODE 6730–01–P FEDERAL COMMUNICATIONS COMMISSION 47 CFR Parts 0, 1, 61 and 69 [WC Docket No. 05–25; RM–10593; FCC 07– 123] Parties Asked To Refresh Record in the Special Access Notice of Proposed Rulemaking Federal Communications Commission. AGENCY: E:\FR\FM\25JYP1.SGM 25JYP1

Agencies

[Federal Register Volume 72, Number 142 (Wednesday, July 25, 2007)]
[Proposed Rules]
[Pages 40813-40814]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E7-14396]


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FEDERAL MARITIME COMMISSION

46 CFR Part 515

[Docket No. 07-06]
RIN 3072-AC33


Filing of Proof of Financial Responsibility

July 20, 2007.
AGENCY: Federal Maritime Commission.

ACTION: Notice of proposed rulemaking.

-----------------------------------------------------------------------

SUMMARY: The Federal Maritime Commission proposes to amend its 
regulations governing the filing of proof of financial responsibility 
for ocean transportation intermediaries by reducing the amount of time 
an applicant may have to file the requisite proof of financial 
responsibility upon approval of applicant's license application from 
two (2) years to 120 days.

DATES: Submit original and 15 copies of comments (paper), or e-mail 
comments

[[Page 40814]]

as an attachment in WordPerfect 8, Microsoft Word 2003, or earlier 
versions of these applications, no later than August 27, 2007.

ADDRESSES: Address all comments concerning this proposed rule to: 
Bryant L. VanBrakle, Secretary, Federal Maritime Commission, 800 N. 
Capitol Street, NW., Room 1046, Washington, DC 20573-0001, (202) 523-
5725, E-mail: secretary@fmc.gov.

FOR FURTHER INFORMATION CONTACT: Sandra L. Kusumoto, Director, Bureau 
of Certification and Licensing, 800 N. Capitol Street, NW., Room 970, 
Washington, DC 20573-0001, (202) 523-5787, E-mail: skusumoto@fmc.gov.

SUPPLEMENTARY INFORMATION: The Commission's regulations at 46 CFR 
515.25(a) currently state that, upon approval for an ocean 
transportation intermediary (``OTI'') license, an applicant must 
provide valid proof of financial responsibility prior to the issuance 
of the license by the Commission's Bureau of Certification and 
Licensing (``BCL''). The regulation currently allows an applicant two 
(2) years in which to furnish such proof of financial responsibility, 
failing which the application will be considered invalid by the 
Commission.
    An extended time period of two (2) years between approval of an OTI 
application and an applicant's procurement of financial responsibility 
has created significant areas of concern for the Commission. First, 
this may be viewed as an opportunity by applicants who have been deemed 
approved but who have gone two (2) years without procuring a surety 
bond to, nonetheless, commence providing OTI services. This result 
would frustrate the statutory goal of protecting the shipping public. 
Second, an applicant's inability or unwillingness to procure a surety 
bond over the course of two (2) years may be an indication of 
questionable financial integrity, a key factor in establishing an 
applicant's continuing fitness to perform OTI services.
    Based on a study conducted by BCL staff of new OTI licenses issued 
in fiscal year 2006, it appears that the greatest majority of qualified 
applicants did not require two (2) years to procure surety bonds. BCL 
statistics show that more than half of the qualified applicants 
obtained surety bonds within 30 days of approval of their applications 
and 87 percent of the applicants obtained surety bonds in a time period 
of 120 days or less. The remainder of the applicants, or 13 percent, 
required between 120 days and two (2) years to obtain surety bonds 
subsequent to approval of their OTI applications. This is an indication 
that reducing the allotment of time for providing proof of valid 
financial responsibility is unlikely to be burdensome upon either the 
industry in general or new OTI applicants in particular.
    Given the current bonding practices of a significant majority of 
new OTI applicants, it appears that a time frame in excess of 120 days 
is unnecessary while creating an opportunity for abuse of the licensing 
process. Accordingly, the Commission proposes to amend 46 CFR 515.25(a) 
by reducing the period of time within which an OTI applicant is 
required to provide the requisite proof of financial responsibility 
subsequent to approval of the application from two (2) years to 120 
days. This would ensure greater efficiency on the part of OTI 
applicants in complying with financial responsibility requirements 
following approval of their applications. Upon expiration of the 120-
day time period, if valid proof of financial responsibility has not 
been provided by an applicant, the OTI application would be considered 
invalid thereby requiring the filing of a new application for an OTI 
license.
    In conjunction with the aforementioned amendment, the Commission 
further proposes to remove as unnecessary the third sentence of 46 CFR 
515.25(a) dealing with supplementary investigations for the 
determination of an applicant's continued qualification if more than 
six (6) months elapse between the time of the approval of the 
application and an applicant's submission of financial responsibility 
to the Commission. Removal of the option of supplementary 
investigations from 46 CFR 515.25(a) likewise necessitates removing 
paragraph (b)(3) of 46 CFR 515.5 inasmuch as the collection of fees for 
supplementary investigations would no longer be appropriate.
    In accordance with the Regulatory Flexibility Act, 5 U.S.C. 601 et 
seq., the Federal Maritime Commission certifies that the proposed rule, 
if promulgated, will not have a significant economic impact on a 
substantial number of small entities. The rule directly applies to the 
licensing requirements of OTIs, which are regulated persons (or 
businesses) under the Commission's jurisdiction that qualify as small 
entities under the guidelines of the Small Business Administration. The 
rule will modify the financial responsibility requirements that must be 
met by persons applying for a license to operate as an OTI. The 
modifications in the rule will simplify the OTI licensing application 
process, and increase administrative efficiencies, while further 
serving to safeguard the shipping public from unlicensed operators. The 
rule imposes no new or additional cost burden on persons applying for 
an OTI license, nor will it have a harmful effect on the general 
public, the U.S. economy, or any of the regulated entities under the 
jurisdiction of the Commission.

List of Subjects in 46 CFR Part 515

    Common carriers, Exports, Non-vessel-operating common carriers, 
Ocean transportation intermediaries, Financial responsibility 
requirements, Reports and recordkeeping requirements, Surety bonds.
    Accordingly, the Federal Maritime Commission proposes to amend 46 
CFR part 515 as follows:

PART 515--LICENSING, FINANCIAL RESPONSIBILITY REQUIREMENTS, AND 
GENERAL DUTIES FOR OCEAN TRANSPORTATION INTERMEDIARIES

    1. The authority citation for part 515 is revised to read as 
follows:

    Authority: 5 U.S.C. 553; 31 U.S.C. 9701; 46 U.S.C. 1702, 1707, 
1709, 1710, 1712, 1714, 1716, and 1718 (recodified October 2006 as 
46 U.S.C. 305, 40102, 40104, 40501-40503, 40901-40904, 41101-41106, 
41107, 41108, 41109, 41301-41302, 41305-41307, 42101, 42301-42306, 
and 42307); Pub. L. 105-383, 112 Stat. 3411, 21 U.S.C. 862.


Sec.  515.5  [Amended]

    2. In Sec.  515.5, remove paragraph (b)(3).
    3. Amend Sec.  515.25(a) by removing the fourth sentence and 
revising the last sentence to read as follows:


Sec.  515.25  Filing of proof of financial responsibility.

    (a) * * * Should the applicant not file the requisite proof of 
financial responsibility within 120 days of notification, the 
Commission will consider the application to be invalid.
* * * * *

    By the Commission.
Bryant L. VanBrakle,
Secretary.
 [FR Doc. E7-14396 Filed 7-24-07; 8:45 am]
BILLING CODE 6730-01-P