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42 USC CHAPTER 103 - COMPREHENSIVE ENVIRONMENTALRESPONSE, COMPENSATION, AND LIABILITY

-CITE-
42 USC CHAPTER 103 - COMPREHENSIVE ENVIRONMENTAL
RESPONSE, COMPENSATION, AND LIABILITY 01/19/04

-EXPCITE-
TITLE 42 - THE PUBLIC HEALTH AND WELFARE
CHAPTER 103 - COMPREHENSIVE ENVIRONMENTAL RESPONSE, COMPENSATION,
AND LIABILITY

-HEAD-
CHAPTER 103 - COMPREHENSIVE ENVIRONMENTAL RESPONSE, COMPENSATION,
AND LIABILITY


-MISC1-
SUBCHAPTER I - HAZARDOUS SUBSTANCES RELEASES, LIABILITY,
COMPENSATION
Sec.
9601. Definitions.
9602. Designation of additional hazardous substances and
establishment of reportable released quantities;
regulations.
9603. Notification requirements respecting released
substances.
(a) Notice to National Response Center upon release
from vessel or offshore or onshore facility by
person in charge; conveyance of notice by
Center.
(b) Penalties for failure to notify; use of notice
or information pursuant to notice in criminal
case.
(c) Notice to Administrator of EPA of existence of
storage, etc., facility by owner or operator;
exception; time, manner, and form of notice;
penalties for failure to notify; use of notice
or information pursuant to notice in criminal
case.
(d) Recordkeeping requirements; promulgation of
rules and regulations by Administrator of EPA;
penalties for violations; waiver of retention
requirements.
(e) Applicability to registered pesticide product.
(f) Exemptions from notice and penalty provisions
for substances reported under other Federal
law or is in continuous release, etc.
9604. Response authorities.
(a) Removal and other remedial action by President;
applicability of national contingency plan;
response by potentially responsible parties;
public health threats; limitations on
response; exception.
(b) Investigations, monitoring, coordination, etc.,
by President.
(c) Criteria for continuance of obligations from
Fund over specified amount for response
actions; consultation by President with
affected States; contracts or cooperative
agreements by States with President prior to
remedial actions; cost-sharing agreements;
selection by President of remedial actions;
State credits: granting of credit, expenses
before listing or agreement, response actions
between 1978 and 1980, State expenses after
December 11, 1980, in excess of 10 percent of
costs, item-by-item approval, use of credits;
operation and maintenance; limitation on
source of funds for O&M; recontracting;
siting.
(d) Contracts or cooperative agreements by
President with States or political
subdivisions or Indian tribes; State
applications, terms and conditions;
reimbursements; cost-sharing provisions;
enforcement requirements and procedures.
(e) Information gathering and access.
(f) Contracts for response actions; compliance with
Federal health and safety standards.
(g) Rates for wages and labor standards applicable
to covered work.
(h) Emergency procurement powers; exercise by
President.
(i) Agency for Toxic Substances and Disease
Registry; establishment, functions, etc.
(j) Acquisition of property.
(k) Brownfields revitalization funding.
9605. National contingency plan.
(a) Revision and republication.
(b) Revision of plan.
(c) Hazard ranking system.
(d) Petition for assessment of release.
(e) Releases from earlier sites.
(f) Minority contractors.
(g) Special study wastes.
(h) NPL deferral.
9606. Abatement actions.
(a) Maintenance, jurisdiction, etc.
(b) Fines; reimbursement.
(c) Guidelines for using imminent hazard,
enforcement, and emergency response
authorities; promulgation by Administrator of
EPA, scope, etc.
9607. Liability.
(a) Covered persons; scope; recoverable costs and
damages; interest rate; "comparable maturity"
date.
(b) Defenses.
(c) Determination of amounts.
(d) Rendering care or advice.
(e) Indemnification, hold harmless, etc.,
agreements or conveyances; subrogation rights.
(f) Natural resources liability; designation of
public trustees of natural resources.
(g) Federal agencies.
(h) Owner or operator of vessel.
(i) Application of a registered pesticide product.
(j) Obligations or liability pursuant to federally
permitted release.
(k) Transfer to, and assumption by, Post-Closure
Liability Fund of liability of owner or
operator of hazardous waste disposal facility
in receipt of permit under applicable solid
waste disposal law; time, criteria applicable,
procedures, etc.; monitoring costs; reports.
(l) Federal lien.
(m) Maritime lien.
(n) Liability of fiduciaries.
(o) De micromis exemption.
(p) Municipal solid waste exemption.
(q) Contiguous properties.
(r) Prospective purchaser and windfall lien.
9608. Financial responsibility.
(a) Establishment and maintenance by owner or
operator of vessel; amount; failure to obtain
certification of compliance.
(b) Establishment and maintenance by owner or
operator of production, etc., facilities;
amount; adjustment; consolidated form of
responsibility; coverage of motor carriers.
(c) Direct Action.
(d) Limitation of guarantor liability.
9609. Civil penalties and awards.
(a) Class I administrative penalty.
(b) Class II administrative penalty.
(c) Judicial assessment.
(d) Awards.
(e) Procurement procedures.
(f) Savings clause.
9610. Employee protection.
(a) Activities of employee subject to protection.
(b) Administrative grievance procedure in cases of
alleged violations.
(c) Assessment of costs and expenses against
violator subsequent to issuance of order of
abatement.
(d) Defenses.
(e) Presidential evaluations of potential loss of
shifts of employment resulting from
administration or enforcement of provisions;
investigations; procedures applicable, etc.
9611. Uses of Fund.
(a) In general.
(b) Additional authorized purposes.
(c) Peripheral matters and limitations.
(d) Additional limitations.
(e) Funding requirements respecting moneys in Fund;
limitation on certain claims; Fund use outside
Federal property boundaries.
(f) Obligation of moneys by Federal officials;
obligation of moneys or settlement of claims
by State officials or Indian tribe.
(g) Notice to potential injured parties by owner
and operator of vessel or facility causing
release of substance; rules and regulations.
(h) Repealed.
(i) Restoration, etc., of natural resources.
(j) Use of Post-closure Liability Fund.
(k) Inspector General.
(l) Foreign claimants.
(m) Agency for Toxic Substances and Disease
Registry.
(n) Limitations on research, development, and
demonstration program.
(o) Notification procedures for limitations on
certain payments.
(p) General revenue share of Superfund.
9612. Claims procedure.
(a) Claims against Fund for response costs.
(b) Forms and procedures applicable.
(c) Subrogation rights; actions maintainable.
(d) Statute of limitations.
(e) Other statutory or common law claims not
waived, etc.
(f) Double recovery prohibited.
9613. Civil proceedings.
(a) Review of regulations in Circuit Court of
Appeals of the United States for the District
of Columbia.
(b) Jurisdiction; venue.
(c) Controversies or other matters resulting from
tax collection or tax regulation review.
(d) Litigation commenced prior to December 11,
1980.
(e) Nationwide service of process.
(f) Contribution.
(g) Period in which action may be brought.
(h) Timing of review.
(i) Intervention.
(j) Judicial review.
(k) Administrative record and participation
procedures.
(l) Notice of actions.
9614. Relationship to other law.
(a) Additional State liability or requirements with
respect to release of substances within State.
(b) Recovery under other State or Federal law of
compensation for removal costs or damages, or
payment of claims.
(c) Recycled oil.
(d) Financial responsibility of owner or operator
of vessel or facility under State or local
law, rule, or regulation.
9615. Presidential delegation and assignment of duties or
powers and promulgation of regulations.
9616. Schedules.
(a) Assessment and listing of facilities.
(b) Evaluation.
(c) Explanations.
(d) Commencement of RI/FS.
(e) Commencement of remedial action.
9617. Public participation.
(a) Proposed plan.
(b) Final plan.
(c) Explanation of differences.
(d) Publication.
(e) Grants for technical assistance.
9618. High priority for drinking water supplies.
9619. Response action contractors.
(a) Liability of response action contractors.
(b) Savings provisions.
(c) Indemnification.
(d) Exception.
(e) Definitions.
(f) Competition.
(g) Surety bonds.
9620. Federal facilities.
(a) Application of chapter to Federal Government.
(b) Notice.
(c) Federal Agency Hazardous Waste Compliance
Docket.
(d) Assessment and evaluation.
(e) Required action by department.
(f) State and local participation.
(g) Transfer of authorities.
(h) Property transferred by Federal agencies.
(i) Obligations under Solid Waste Disposal Act.
(j) National security.
9621. Cleanup standards.
(a) Selection of remedial action.
(b) General rules.
(c) Review.
(d) Degree of cleanup.
(e) Permits and enforcement.
(f) State involvement.
9622. Settlements.
(a) Authority to enter into agreements.
(b) Agreements with potentially responsible
parties.
(c) Effect of agreement.
(d) Enforcement.
(e) Special notice procedures.
(f) Covenant not to sue.
(g) De minimis settlements.
(h) Cost recovery settlement authority.
(i) Settlement procedures.
(j) Natural resources.
(k) Section not applicable to vessels.
(l) Civil penalties.
(m) Applicability of general principles of law.
9623. Reimbursement to local governments.
(a) Application.
(b) Reimbursement.
(c) Amount.
(d) Procedure.
9624. Methane recovery.
(a) In general.
(b) Exceptions.
9625. Section 6921(b)(3)(A)(i) waste.
(a) Revision of hazard ranking system.
(b) Inclusion prohibited.
9626. Indian tribes.
(a) Treatment generally.
(b) Community relocation.
(c) Study.
(d) Limitation.
9627. Recycling transactions.
(a) Liability clarification.
(b) Recyclable material defined.
(c) Transactions involving scrap paper, plastic,
glass, textiles, or rubber.
(d) Transactions involving scrap metal.
(e) Transactions involving batteries.
(f) Exclusions.
(g) Effect on other liability.
(h) Regulations.
(i) Effect on pending or concluded actions.
(j) Liability for attorney's fees for certain
actions.
(k) Relationship to liability under other laws.
(l) Limitation on statutory construction.
9628. State response programs.
(a) Assistance to States.
(b) Enforcement in cases of a release subject to
State program.
(c) Effect on Federal laws.

SUBCHAPTER II - HAZARDOUS SUBSTANCE RESPONSE REVENUE

PART A - HAZARDOUS SUBSTANCE RESPONSE TRUST FUND
9631 to 9633. Repealed.

PART B - POST-CLOSURE LIABILITY TRUST FUND
9641. Repealed.

SUBCHAPTER III - MISCELLANEOUS PROVISIONS
9651. Reports and studies.
(a) Implementation experiences; identification and
disposal of waste.
(b) Private insurance protection.
(c) Regulations respecting assessment of damages to
natural resources.
(d) Issues, alternatives, and policy considerations
involving selection of locations for waste
treatment, storage, and disposal facilities.
(e) Adequacy of existing common law and statutory
remedies.
(f) Modification of national contingency plan.
(g) Insurability study.
9652. Effective dates; savings provisions.
9653. Repealed.
9654. Applicability of Federal water pollution control
funding, etc., provisions.
9655. Legislative veto of rule or regulation.
(a) Transmission to Congress upon promulgation or
repromulgation of rule or regulation;
disapproval procedures.
(b) Approval; effective dates.
(c) Sessions of Congress as applicable.
(d) Congressional inaction on, or rejection of,
resolution of disapproval.
9656. Transportation of hazardous substances; listing as
hazardous material; liability for release.
9657. Separability; contribution.
9658. Actions under State law for damages from exposure to
hazardous substances.
(a) State statutes of limitations for hazardous
substance cases.
(b) Definitions.
9659. Citizens suits.
(a) Authority to bring civil actions.
(b) Venue.
(c) Relief.
(d) Rules applicable to subsection (a)(1) actions.
(e) Rules applicable to subsection (a)(2) actions.
(f) Costs.
(g) Intervention.
(h) Other rights.
(i) Definitions.
9660. Research, development, and demonstration.
(a) Hazardous substance research and training.
(b) Alternative or innovative treatment technology
research and demonstration program.
(c) Hazardous substance research.
(d) University hazardous substance research
centers.
(e) Report to Congress.
(f) Saving provision.
(g) Small business participation.
9660a. Grant program.
9661. Love Canal property acquisition.
(a) Acquisition of property in emergency
declaration area.
(b) Procedures for acquisition.
(c) State ownership.
(d) Maintenance of property.
(e) Habitability and land use study.
(f) Funding.
(g) Response.
(h) Definitions.
9662. Limitation on contract and borrowing authority.

SUBCHAPTER IV - POLLUTION INSURANCE
9671. Definitions.
9672. State laws; scope of subchapter.
(a) State laws.
(b) Scope of subchapter.
9673. Risk retention groups.
(a) Exemption.
(b) Exceptions.
(c) Application of exemptions.
(d) Agents or brokers.
9674. Purchasing groups.
(a) Exemption.
(b) Application of exemptions.
(c) Agents or brokers.
9675. Applicability of securities laws.
(a) Ownership interests.
(b) Investment Company Act.
(c) Blue sky law.

-SECREF-
CHAPTER REFERRED TO IN OTHER SECTIONS
This chapter is referred to in sections 300h-6, 300h-7, 6972,
11004 of this title; title 10 sections 2700, 2701, 2703; title 16
sections 410yy-3, 426n, 460lll, 460lll-46, 545b; title 26 sections
9507, 9508; title 30 section 1240a; title 33 sections 1272, 1321,
2701; title 43 sections 869-2, 1474b-1.

-End-


-CITE-
42 USC SUBCHAPTER I - HAZARDOUS SUBSTANCES RELEASES,
LIABILITY, COMPENSATION 01/19/04

-EXPCITE-
TITLE 42 - THE PUBLIC HEALTH AND WELFARE
CHAPTER 103 - COMPREHENSIVE ENVIRONMENTAL RESPONSE, COMPENSATION,
AND LIABILITY
SUBCHAPTER I - HAZARDOUS SUBSTANCES RELEASES, LIABILITY,
COMPENSATION

-HEAD-
SUBCHAPTER I - HAZARDOUS SUBSTANCES RELEASES, LIABILITY,
COMPENSATION

-SECREF-
SUBCHAPTER REFERRED TO IN OTHER SECTIONS
This subchapter is referred to in sections 9655, 9658, 9659 of
this title; title 26 section 9507.

-End-



-CITE-
42 USC Sec. 9601 01/19/04

-EXPCITE-
TITLE 42 - THE PUBLIC HEALTH AND WELFARE
CHAPTER 103 - COMPREHENSIVE ENVIRONMENTAL RESPONSE, COMPENSATION,
AND LIABILITY
SUBCHAPTER I - HAZARDOUS SUBSTANCES RELEASES, LIABILITY,
COMPENSATION

-HEAD-
Sec. 9601. Definitions

-STATUTE-
For purpose of this subchapter -
(1) The term "act of God" means an unanticipated grave natural
disaster or other natural phenomenon of an exceptional,
inevitable, and irresistible character, the effects of which
could not have been prevented or avoided by the exercise of due
care or foresight.
(2) The term "Administrator" means the Administrator of the
United States Environmental Protection Agency.
(3) The term "barrel" means forty-two United States gallons at
sixty degrees Fahrenheit.
(4) The term "claim" means a demand in writing for a sum
certain.
(5) The term "claimant" means any person who presents a claim
for compensation under this chapter.
(6) The term "damages" means damages for injury or loss of
natural resources as set forth in section 9607(a) or 9611(b) of
this title.
(7) The term "drinking water supply" means any raw or finished
water source that is or may be used by a public water system (as
defined in the Safe Drinking Water Act [42 U.S.C. 300f et seq.])
or as drinking water by one or more individuals.
(8) The term "environment" means (A) the navigable waters, the
waters of the contiguous zone, and the ocean waters of which the
natural resources are under the exclusive management authority of
the United States under the Magnuson-Stevens Fishery Conservation
and Management Act [16 U.S.C. 1801 et seq.], and (B) any other
surface water, ground water, drinking water supply, land surface
or subsurface strata, or ambient air within the United States or
under the jurisdiction of the United States.
(9) The term "facility" means (A) any building, structure,
installation, equipment, pipe or pipeline (including any pipe
into a sewer or publicly owned treatment works), well, pit, pond,
lagoon, impoundment, ditch, landfill, storage container, motor
vehicle, rolling stock, or aircraft, or (B) any site or area
where a hazardous substance has been deposited, stored, disposed
of, or placed, or otherwise come to be located; but does not
include any consumer product in consumer use or any vessel.
(10) The term "federally permitted release" means (A)
discharges in compliance with a permit under section 402 of the
Federal Water Pollution Control Act [33 U.S.C. 1342], (B)
discharges resulting from circumstances identified and reviewed
and made part of the public record with respect to a permit
issued or modified under section 402 of the Federal Water
Pollution Control Act and subject to a condition of such permit,
(C) continuous or anticipated intermittent discharges from a
point source, identified in a permit or permit application under
section 402 of the Federal Water Pollution Control Act, which are
caused by events occurring within the scope of relevant operating
or treatment systems, (D) discharges in compliance with a legally
enforceable permit under section 404 of the Federal Water
Pollution Control Act [33 U.S.C. 1344], (E) releases in
compliance with a legally enforceable final permit issued
pursuant to section 3005(a) through (d) of the Solid Waste
Disposal Act [42 U.S.C. 6925(a)-(d)] from a hazardous waste
treatment, storage, or disposal facility when such permit
specifically identifies the hazardous substances and makes such
substances subject to a standard of practice, control procedure
or bioassay limitation or condition, or other control on the
hazardous substances in such releases, (F) any release in
compliance with a legally enforceable permit issued under section
1412 of title 33 of )1(! section 1413 of title 33, (G) any
injection of fluids authorized under Federal underground
injection control programs or State programs submitted for
Federal approval (and not disapproved by the Administrator of the
Environmental Protection Agency) pursuant to part C of the Safe
Drinking Water Act [42 U.S.C. 300h et seq.], (H) any emission
into the air subject to a permit or control regulation under
section 111 [42 U.S.C. 7411], section 112 [42 U.S.C. 7412], title
I part C [42 U.S.C. 7470 et seq.], title I part D [42 U.S.C. 7501
et seq.], or State implementation plans submitted in accordance
with section 110 of the Clean Air Act [42 U.S.C. 7410] (and not
disapproved by the Administrator of the Environmental Protection
Agency), including any schedule or waiver granted, promulgated,
or approved under these sections, (I) any injection of fluids or
other materials authorized under applicable State law (i) for the
purpose of stimulating or treating wells for the production of
crude oil, natural gas, or water, (ii) for the purpose of
secondary, tertiary, or other enhanced recovery of crude oil or
natural gas, or (iii) which are brought to the surface in
conjunction with the production of crude oil or natural gas and
which are reinjected, (J) the introduction of any pollutant into
a publicly owned treatment works when such pollutant is specified
in and in compliance with applicable pretreatment standards of
section 307(b) or (c) of the Clean Water Act [33 U.S.C. 1317(b),
(c)] and enforceable requirements in a pretreatment program
submitted by a State or municipality for Federal approval under
section 402 of such Act [33 U.S.C. 1342], and (K) any release of
source, special nuclear, or byproduct material, as those terms
are defined in the Atomic Energy Act of 1954 [42 U.S.C. 2011 et
seq.], in compliance with a legally enforceable license, permit,
regulation, or order issued pursuant to the Atomic Energy Act of
1954.

(11) The term "Fund" or "Trust Fund" means the Hazardous
Substance Superfund established by section 9507 of title 26.
(12) The term "ground water" means water in a saturated zone or
stratum beneath the surface of land or water.
(13) The term "guarantor" means any person, other than the
owner or operator, who provides evidence of financial
responsibility for an owner or operator under this chapter.
(14) The term "hazardous substance" means (A) any substance
designated pursuant to section 311(b)(2)(A) of the Federal Water
Pollution Control Act [33 U.S.C. 1321(b)(2)(A)], (B) any element,
compound, mixture, solution, or substance designated pursuant to
section 9602 of this title, (C) any hazardous waste having the
characteristics identified under or listed pursuant to section
3001 of the Solid Waste Disposal Act [42 U.S.C. 6921] (but not
including any waste the regulation of which under the Solid Waste
Disposal Act [42 U.S.C. 6901 et seq.] has been suspended by Act
of Congress), (D) any toxic pollutant listed under section 307(a)
of the Federal Water Pollution Control Act [33 U.S.C. 1317(a)],
(E) any hazardous air pollutant listed under section 112 of the
Clean Air Act [42 U.S.C. 7412], and (F) any imminently hazardous
chemical substance or mixture with respect to which the
Administrator has taken action pursuant to section 7 of the Toxic
Substances Control Act [15 U.S.C. 2606]. The term does not
include petroleum, including crude oil or any fraction thereof
which is not otherwise specifically listed or designated as a
hazardous substance under subparagraphs (A) through (F) of this
paragraph, and the term does not include natural gas, natural gas
liquids, liquefied natural gas, or synthetic gas usable for fuel
(or mixtures of natural gas and such synthetic gas).
(15) The term "navigable waters" or "navigable waters of the
United States" means the waters of the United States, including
the territorial seas.
(16) The term "natural resources" means land, fish, wildlife,
biota, air, water, ground water, drinking water supplies, and
other such resources belonging to, managed by, held in trust by,
appertaining to, or otherwise controlled by the United States
(including the resources of the fishery conservation zone
established by the Magnuson-Stevens Fishery Conservation and
Management Act [16 U.S.C. 1801 et seq.]), any State or local
government, any foreign government, any Indian tribe, or, if such
resources are subject to a trust restriction on alienation, any
member of an Indian tribe.
(17) The term "offshore facility" means any facility of any
kind located in, on, or under, any of the navigable waters of the
United States, and any facility of any kind which is subject to
the jurisdiction of the United States and is located in, on, or
under any other waters, other than a vessel or a public vessel.
(18) The term "onshore facility" means any facility (including,
but not limited to, motor vehicles and rolling stock) of any kind
located in, on, or under, any land or nonnavigable waters within
the United States.
(19) The term "otherwise subject to the jurisdiction of the
United States" means subject to the jurisdiction of the United
States by virtue of United States citizenship, United States
vessel documentation or numbering, or as provided by
international agreement to which the United States is a party.
(20)(A) The term "owner or operator" means (i) in the case of a
vessel, any person owning, operating, or chartering by demise,
such vessel, (ii) in the case of an onshore facility or an
offshore facility, any person owning or operating such facility,
and (iii) in the case of any facility, title or control of which
was conveyed due to bankruptcy, foreclosure, tax delinquency,
abandonment, or similar means to a unit of State or local
government, any person who owned, operated, or otherwise
controlled activities at such facility immediately beforehand.
Such term does not include a person, who, without participating
in the management of a vessel or facility, holds indicia of
ownership primarily to protect his security interest in the
vessel or facility.
(B) In the case of a hazardous substance which has been
accepted for transportation by a common or contract carrier and
except as provided in section 9607(a)(3) or (4) of this title,
(i) the term "owner or operator" shall mean such common carrier
or other bona fide for hire carrier acting as an independent
contractor during such transportation, (ii) the shipper of such
hazardous substance shall not be considered to have caused or
contributed to any release during such transportation which
resulted solely from circumstances or conditions beyond his
control.
(C) In the case of a hazardous substance which has been
delivered by a common or contract carrier to a disposal or
treatment facility and except as provided in section 9607(a)(3)
or (4) of this title, (i) the term "owner or operator" shall not
include such common or contract carrier, and (ii) such common or
contract carrier shall not be considered to have caused or
contributed to any release at such disposal or treatment facility
resulting from circumstances or conditions beyond its control.
(D) The term "owner or operator" does not include a unit of
State or local government which acquired ownership or control
involuntarily through bankruptcy, tax delinquency, abandonment,
or other circumstances in which the government involuntarily
acquires title by virtue of its function as sovereign. The
exclusion provided under this paragraph shall not apply to any
State or local government which has caused or contributed to the
release or threatened release of a hazardous substance from the
facility, and such a State or local government shall be subject
to the provisions of this chapter in the same manner and to the
same extent, both procedurally and substantively, as any
nongovernmental entity, including liability under section 9607 of
this title.
(E) Exclusion of lenders not participants in management. -
(i) Indicia of ownership to protect security. - The term
"owner or operator" does not include a person that is a lender
that, without participating in the management of a vessel or
facility, holds indicia of ownership primarily to protect the
security interest of the person in the vessel or facility.
(ii) Foreclosure. - The term "owner or operator" does not
include a person that is a lender that did not participate in
management of a vessel or facility prior to foreclosure,
notwithstanding that the person -
(I) forecloses on the vessel or facility; and
(II) after foreclosure, sells, re-leases (in the case of a
lease finance transaction), or liquidates the vessel or
facility, maintains business activities, winds up operations,
undertakes a response action under section 9607(d)(1) of this
title or under the direction of an on-scene coordinator
appointed under the National Contingency Plan, with respect
to the vessel or facility, or takes any other measure to
preserve, protect, or prepare the vessel or facility prior to
sale or disposition,

if the person seeks to sell, re-lease (in the case of a lease
finance transaction), or otherwise divest the person of the
vessel or facility at the earliest practicable, commercially
reasonable time, on commercially reasonable terms, taking into
account market conditions and legal and regulatory
requirements.

(F) Participation in management. - For purposes of subparagraph
(E) -
(i) the term "participate in management" -
(I) means actually participating in the management or
operational affairs of a vessel or facility; and
(II) does not include merely having the capacity to
influence, or the unexercised right to control, vessel or
facility operations;

(ii) a person that is a lender and that holds indicia of
ownership primarily to protect a security interest in a vessel
or facility shall be considered to participate in management
only if, while the borrower is still in possession of the
vessel or facility encumbered by the security interest, the
person -
(I) exercises decisionmaking control over the environmental
compliance related to the vessel or facility, such that the
person has undertaken responsibility for the hazardous
substance handling or disposal practices related to the
vessel or facility; or
(II) exercises control at a level comparable to that of a
manager of the vessel or facility, such that the person has
assumed or manifested responsibility -
(aa) for the overall management of the vessel or facility
encompassing day-to-day decisionmaking with respect to
environmental compliance; or
(bb) over all or substantially all of the operational
functions (as distinguished from financial or
administrative functions) of the vessel or facility other
than the function of environmental compliance;

(iii) the term "participate in management" does not include
performing an act or failing to act prior to the time at which
a security interest is created in a vessel or facility; and
(iv) the term "participate in management" does not include -
(I) holding a security interest or abandoning or releasing
a security interest;
(II) including in the terms of an extension of credit, or
in a contract or security agreement relating to the
extension, a covenant, warranty, or other term or condition
that relates to environmental compliance;
(III) monitoring or enforcing the terms and conditions of
the extension of credit or security interest;
(IV) monitoring or undertaking 1 or more inspections of the
vessel or facility;
(V) requiring a response action or other lawful means of
addressing the release or threatened release of a hazardous
substance in connection with the vessel or facility prior to,
during, or on the expiration of the term of the extension of
credit;
(VI) providing financial or other advice or counseling in
an effort to mitigate, prevent, or cure default or diminution
in the value of the vessel or facility;
(VII) restructuring, renegotiating, or otherwise agreeing
to alter the terms and conditions of the extension of credit
or security interest, exercising forbearance;
(VIII) exercising other remedies that may be available
under applicable law for the breach of a term or condition of
the extension of credit or security agreement; or
(IX) conducting a response action under section 9607(d) of
this title or under the direction of an on-scene coordinator
appointed under the National Contingency Plan,

if the actions do not rise to the level of participating in
management (within the meaning of clauses (i) and (ii)).

(G) Other terms. - As used in this chapter:
(i) Extension of credit. - The term "extension of credit"
includes a lease finance transaction -
(I) in which the lessor does not initially select the
leased vessel or facility and does not during the lease term
control the daily operations or maintenance of the vessel or
facility; or
(II) that conforms with regulations issued by the
appropriate Federal banking agency or the appropriate State
bank supervisor (as those terms are defined in section 1813
of title 12 )2(! or with regulations issued by the National
Credit Union Administration Board, as appropriate.


(ii) Financial or administrative function. - The term
"financial or administrative function" includes a function such
as that of a credit manager, accounts payable officer, accounts
receivable officer, personnel manager, comptroller, or chief
financial officer, or a similar function.
(iii) Foreclosure; foreclose. - The terms "foreclosure" and
"foreclose" mean, respectively, acquiring, and to acquire, a
vessel or facility through -
(I)(aa) purchase at sale under a judgment or decree, power
of sale, or nonjudicial foreclosure sale;
(bb) a deed in lieu of foreclosure, or similar conveyance
from a trustee; or
(cc) repossession,

if the vessel or facility was security for an extension of
credit previously contracted;
(II) conveyance pursuant to an extension of credit
previously contracted, including the termination of a lease
agreement; or
(III) any other formal or informal manner by which the
person acquires, for subsequent disposition, title to or
possession of a vessel or facility in order to protect the
security interest of the person.

(iv) Lender. - The term "lender" means -
(I) an insured depository institution (as defined in
section 1813 of title 12);
(II) an insured credit union (as defined in section 1752 of
title 12);
(III) a bank or association chartered under the Farm Credit
Act of 1971 (12 U.S.C. 2001 et seq.);
(IV) a leasing or trust company that is an affiliate of an
insured depository institution;
(V) any person (including a successor or assignee of any
such person) that makes a bona fide extension of credit to or
takes or acquires a security interest from a nonaffiliated
person;
(VI) the Federal National Mortgage Association, the Federal
Home Loan Mortgage Corporation, the Federal Agricultural (continued)