Persons who must report under section 37.

16 C.F.R. § 1116.3
in effectEffective: 2024-07-01
Sign in to generate a plain English summaryAsk Belisarius Agent
A manufacturer of a consumer product must report if: (a) A particular model of the product is the subject of at least 3 civil actions filed in Federal or State Court; (b) Each suit alleges the involvement of that particular model in death or grievous bodily injury; (c) The manufacturer is— (1) A party to, or (2) Is involved in the defense of or has notice of each action prior to entry of a final order, and is involved in the discharge of any obligation owed to plaintiff under the settlement of or in satisfaction of the judgment after adjudication in each of the suits; and (d) During one of the 24-month periods defined in § 1116.2(a), each of the three actions results in either a final settlement involving the manufacturer or in a court judgment in favor of the plaintiff.

Starting a business? Corpus forms LLCs in all 50 states and DC.