Sec. 6. BONDING AND OTHER FINANCIAL ASSURANCE REQUIREMENTS
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## SEC. 6 BONDING AND OTHER FINANCIAL ASSURANCE REQUIREMENTS **[**[7 U.S.C. 245](/us/usc/t7/s245)**]** ###
(a)In General As a condition of receiving a license or approval under this Act (including regulations promulgated under this Act), the person applying for the license or approval shall execute and file with the Secretary a bond, or provide such other financial assurance as the Secretary determines appropriate, to secure the person's performance of the activities so licensed or approved. ###
(b)Service of Process To qualify as a suitable bond or other financial assurance under subsection (a), the surety, sureties, or financial institution shall be subject to service of process in suits on the bond or other financial assurance in the State, district, or territory in which the warehouse is located. ###
(c)Additional Assurances If the Secretary determines that a previously approved bond or other financial assurance is insufficient, the Secretary may suspend or revoke the license or approval covered by the bond or other financial assurance if the person that filed the bond or other financial assurance does not provide such additional bond or other financial assurance as the Secretary determines appropriate. ###
(d)Third Party Actions Any person injured by the breach of any obligation arising under this Act for which a bond or other financial assurance has been obtained as required by this section may sue with respect to the bond or other financial assurance in a district court of the United States to recover the damages that the person sustained as a result of the breach.
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Sec. 6
BONDING AND OTHER FINANCIAL ASSURANCE REQUIREMENTS
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