S.3076 - Furthering Asbestos Claim Transparency Act of 2012
A bill to amend title 11 of the United States Code to require the public disclosure by trusts established under section 524(g) of such title, of quarterly reports that contain detailed information regarding the receipt and disposition of claims for injuries based on exposure to asbestos, and the filing of such reports with the Executive Office for United States Trustees.
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To amend title 11 of the United States Code to require the public disclosure by trusts established under section 524(g) of such title, of quarterly reports that contain detailed information regarding the receipt and disposition of claims for injuries based on exposure to asbestos, and the filing of such reports with the Executive Office for United States Trustees.CommentsClose CommentsPermalink
To amend title 11 of the United States Code to require the public disclosure by trusts established under section 524(g) of such title, of quarterly reports that contain detailed information regarding the receipt and disposition of claims for injuries based on exposure to asbestos, and the filing of such reports with the Executive Office for United States Trustees.CommentsClose CommentsPermalink
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,CommentsClose CommentsPermalink
SECTION 1. SHORT TITLE.
This Act may be cited as the ‘Furthering Asbestos Claim Transparency Act of 2012’ or the ‘FACT Act’.CommentsClose CommentsPermalink
SEC. 2. AMENDMENTS.
Section 524(g) of title 11, the United States Code, is amended by adding at the end the following:CommentsClose CommentsPermalink
‘(A) not later than 60 days after the end of each quarter, file with the bankruptcy court (which shall make the report available on the public docket of the court) and the United States Trustee a report that, for the quarter covered by the report--CommentsClose CommentsPermalink
‘(I) shall include the name and exposure history of the claimant and the basis for any payment from the trust made to such claimant; andCommentsClose CommentsPermalink
‘(II) shall not include any confidential medical record or the claimant’s full social security number; andCommentsClose CommentsPermalink
‘(B) upon written request, provide in a timely manner any information relating to payment from, and demands for payment from, the trust, subject to appropriate protective orders, to any party to any action in law or equity if the subject of the action concerns liability for asbestos exposure.’.CommentsClose CommentsPermalink
SEC. 3. EFFECTIVE DATE; APPLICATION OF AMENDMENTS.
(a) Effective Date- Except as provided in subsection (b), this Act and the amendments made by this Act shall take effect on the date of enactment of this Act.CommentsClose CommentsPermalink
(b) Application of Amendments- The amendments made by this Act shall apply with respect to any matter under title 11 of the United States Code filed before, on, or after the date of enactment of this Act.CommentsClose CommentsPermalink
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U.S. Congress - Text of S.3076 as Introduced in Senate Furthering Asbestos Claim Transparency Act of 2012
