[Federal Register Volume 89, Number 213 (Monday, November 4, 2024)]
[Proposed Rules]
[Pages 87532-87536]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-25517]


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DEPARTMENT OF TRANSPORTATION

Federal Motor Carrier Safety Administration

49 CFR Parts 386 and 387

[Docket No. FMCSA-2024-0280]
RIN 2126-AC76


Broker and Freight Forwarder Financial Responsibility; Extension 
of Compliance Date

AGENCY: Federal Motor Carrier Safety Administration (FMCSA), Department 
of Transportation (DOT).

ACTION: Notice of proposed rulemaking (NPRM).

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SUMMARY: FMCSA proposes to amend its November 16, 2023, final rule, 
``Broker and Freight Forwarder Financial Responsibility,'' by extending 
the compliance date for certain provisions from January 16, 2025, to 
January 16, 2026. This action is being proposed because FMCSA has 
determined that only its forthcoming online registration system will be 
used to accept filings and track notifications, and this functionality 
will not be added to its legacy systems. As the new system is not 
expected to be available before January 16, 2025, FMCSA proposes to 
extend the compliance date to provide regulated entities time to begin 
using and familiarizing themselves with the system before compliance is 
required.

DATES: Comments must be received on or before November 19, 2024. 
Comments should be limited to the proposed change in the compliance 
date.

ADDRESSES: You may submit comments identified by Docket Number FMCSA-
2024-0280 using any one of the following methods:
    <bullet> Federal Rulemaking Portal: Go to https://www.regulations.gov. Follow the online instructions for submitting 
comments.
    <bullet> Mail: Dockets Operations, U.S. Department of 
Transportation, 1200 New Jersey Avenue SE, West Building, Ground Floor, 
Washington, DC 20590-0001.
    <bullet> Hand Delivery or Courier: Dockets Operations, U.S. 
Department of Transportation, 1200 New Jersey Avenue SE, West Building, 
Ground Floor, Washington, DC 20590-0001, between 9 a.m. and 5 p.m., 
Monday through Friday, except Federal holidays. To be sure someone is 
there to help you, please call (202) 366-9317 or (202) 366-9826 before 
visiting Dockets Operations.
    <bullet> Fax: (202) 493-2251.

FOR FURTHER INFORMATION CONTACT: Ana Alvarez, Financial Analyst, Office 
of Registration, Financial Responsibility Filings Division, FMCSA, 1200 
New Jersey Avenue SE, West Building, 6th Floor, Washington, DC 20590; 
(202) 366-0401; <a href="/cdn-cgi/l/email-protection#2a4b444b044b465c4b584f506a4e455e044d455c"><span class="__cf_email__" data-cfemail="13727d723d727f657261766953777c673d747c65">[email protected]</span></a>. If you have questions on viewing 
or submitting material to the docket, call Dockets Operations at (202) 
366-9826.

SUPPLEMENTARY INFORMATION: FMCSA organizes this NPRM as follows:

I. Public Participation and Request for Comments
    A. Submitting Comments
    B. Viewing Comments and Documents
    C. Privacy
II. Executive Summary
    A. Purpose and Summary of the Regulatory Action
    B. Costs and Benefits
III. Abbreviations
IV. Legal Basis
V. Background
VI. Discussion of Proposed Rulemaking
VII. Regulatory Analyses
    A. E.O. 12866 (Regulatory Planning and Review), E.O. 13563 
(Improving Regulation and Regulatory Review), E.O. 14094 
(Modernizing Regulatory Review), and DOT Regulatory Policies and 
Procedures
    B. Regulatory Flexibility Act (Small Entities)
    C. Assistance for Small Entities
    D. Unfunded Mandates Reform Act of 1995
    E. Paperwork Reduction Act
    F. E.O. 13132 (Federalism)
    G. Privacy
    H. E.O. 13175 (Indian Tribal Governments)
    I. National Environmental Policy Act of 1969
    J. Rulemaking Summary

I. Public Participation and Request for Comments

A. Submitting Comments

    If you submit a comment, please include the docket number for this 
NPRM (FMCSA-2024-0280), indicate the specific section of this document 
to which your comment applies, and provide a reason for each suggestion 
or recommendation. You may submit your comments and material online or 
by fax, mail, or hand delivery, but please use only one of these means. 
FMCSA recommends that you include your name and a mailing address, an 
email address, or a phone number in the body of your document so FMCSA 
can contact you if there are questions regarding your submission.
    To submit your comment online, go to https://www.regulations.gov/docket/FMCSA-2024-0280/document, click on this NPRM, click ``Comment,'' 
and type your comment into the text box on the following screen.
    If you submit your comments by mail or hand delivery, submit them 
in an unbound format, no larger than 8\1/2\ by 11 inches, suitable for 
copying and electronic filing.
    FMCSA will consider all comments and material received during the 
comment period.
Confidential Business Information (CBI)
    CBI is commercial or financial information that is both customarily 
and actually treated as private by its owner. Under the Freedom of 
Information Act (5 U.S.C. 552), CBI is exempt from public disclosure. 
If your comments responsive to the NPRM contain commercial or financial 
information that is customarily treated as private, that you actually 
treat as private, and that is relevant or responsive to the NPRM, it is 
important that you clearly designate the submitted comments as CBI. 
Please mark each page of your submission that constitutes CBI as 
``PROPIN'' to indicate it contains proprietary information. FMCSA will 
treat such marked submissions as confidential under the Freedom of 
Information Act, and they will not be placed in the public docket of 
the NPRM.
    Submissions containing CBI should be sent to Mr. Brian Dahlin, 
Chief, Regulatory Evaluation Division, Office of Policy, FMCSA, 1200 
New Jersey Avenue SE, Washington, DC 20590-0001 or via email at 
<a href="/cdn-cgi/l/email-protection#71130318101f5f165f1510191d181f31151e055f161e07"><span class="__cf_email__" data-cfemail="583a2a313936763f763c3930343136183c372c763f372e">[email protected]</span></a>. At this time, you need not send a duplicate 
hardcopy of your electronic

[[Page 87533]]

CBI submissions to FMCSA headquarters. Any comments FMCSA receives not 
specifically designated as CBI will be placed in the public docket for 
this rulemaking.

B. Viewing Comments and Documents

    To view any documents mentioned as being available in the docket, 
go to https://www.regulations.gov/docket/FMCSA-2024-0280/document and 
choose the document to review. To view comments, click this NPRM, then 
click ``Browse Comments.'' If you do not have access to the internet, 
you may view the docket online by visiting Dockets Operations on the 
ground floor of the DOT West Building, 1200 New Jersey Avenue SE, 
Washington, DC 20590-0001, between 9 a.m. and 5 p.m., Monday through 
Friday, except Federal holidays. To be sure someone is there to help 
you, please call (202) 366-9317 or (202) 366-9826 before visiting 
Dockets Operations.

C. Privacy

    In accordance with 5 U.S.C. 553(c), DOT solicits comments from the 
public to better inform its regulatory process. DOT posts these 
comments, including any personal information the commenter provides, to 
www.regulations.gov as described in the system of records notice (DOT/
ALL 14--Federal Docket Management System (FDMS)), which can be reviewed 
at https://www.transportation.gov/individuals/privacy/privacy-act-system-recordsnotices. The comments are posted without edit and are 
searchable by the name of the submitter.

II. Executive Summary

A. Purpose and Summary of the Regulatory Action

    FMCSA proposes to extend certain compliance dates in the 2023 final 
rule, ``Broker and Freight Forwarder Financial Responsibility'' (88 FR 
78656, Nov. 16, 2023), from January 16, 2025, to January 16, 2026, 
creating a single compliance date for all provisions in the rule. This 
extension will ensure that parties required to comply with the 
regulations have sufficient opportunity to register in the new system 
and begin using it, and that FMCSA is able to properly process and 
respond to such filings. The provisions affected by this extension are:
    1. Immediate suspension of broker/freight forwarder operating 
authority. When a broker or freight forwarder's available financial 
security falls below $75,000, FMCSA shall suspend its operating 
authority registration.
    2. Surety or trust responsibilities in cases of broker/freight 
forwarder financial failure or insolvency. If a surety/trustee becomes 
aware that a broker or freight forwarder is experiencing financial 
failure or insolvency, it must notify FMCSA and initiate cancelation of 
the financial responsibility.
    3. Enforcement authority and penalties for financial responsibility 
providers who do not comply with the regulations. FMCSA is 
incorporating the statutorily mandated penalties into its regulations. 
After notice and an opportunity for a hearing, surety companies or 
financial institutions who violate 49 CFR 387.307 will be ineligible to 
provide financial responsibility for 3 years and may also be subject to 
a civil penalty.
    This extension is necessary so that FMCSA can implement its new 
online registration system and make it available to entities required 
to register and make filings in the system. This extension is also 
intended to provide users with an opportunity to begin using, and 
become familiar with, the new online registration system before 
compliance with the system becomes mandatory. The planned release for 
the new modernized registration system is 2025.

B. Costs and Benefits

    The 2023 Broker and Freight Forwarder Financial Responsibility 
final regulatory impact analysis (RIA) estimated costs for compliance 
and implementation among brokers, freight forwarders, surety bond and 
trust fund providers, and the Federal government. This proposed rule 
would delay certain provisions requiring filings in the online 
registration system until January 16, 2026, resulting in all provisions 
of the rule becoming effective at the same time.
    Despite the delayed compliance for certain provisions, FMCSA finds 
that the benefits stipulated in the 2023 final rule remain unchanged by 
this proposed rule. The provision mandating that brokers and freight 
forwarders maintain assets readily available in trust funds, will still 
take effect as originally scheduled, on January 16, 2026. Brokers and 
freight forwarders, surety bond and trust fund providers would incur 
cost savings by not being required to file documentation relating to 
certain other provisions until January 16, 2026. FMCSA would also incur 
cost savings in delaying the enforcement of several provisions of the 
2023 final rule. In conclusion, the Agency finds that this proposed 
rule would maintain all benefits and reduce costs by a de minimis 
amount for all parties subject to the 2023 final rule.

III. Abbreviations

CBI Confidential Business Information
CE Categorical exclusion
CFR Code of Federal Regulations
DOT Department of Transportation
E.O. Executive Order
FMCSA Federal Motor Carrier Safety Administration
FR Federal Register
NPRM Notice of proposed rulemaking
OMB Office of Management and Budget
PIA Privacy Impact Assessment
PII Personally Identifiable Information
PTA Privacy Threshold Assessment
RIA Regulatory Impact Analysis
URS Unified Registration System
UMRA Unfunded Mandates Reform Act
U.S.C. United States Code

IV. Legal Basis

    The legal basis of the Broker and Freight Forwarder Financial 
Responsibility final rule, set forth at 88 FR 78658, also serves as the 
legal basis for this NPRM. The statutory authority identified in that 
discussion is 49 U.S.C. 13906, which contains requirements for the 
financial security of brokers and freight forwarders and directs the 
Secretary to issue regulations to implement and enforce these 
requirements. Authority to carry out and enforce these provisions has 
been delegated to the Administrator of FMCSA (49 CFR 1.87(a)(5)).
    As discussed in the final rule, 49 CFR 387.403T(c) makes any 
requirements applicable to broker of property surety bonds and trust 
funds in Sec.  387.307 applicable to the surety bond or trust fund 
required of freight forwarders as well.\1\ Therefore, any time this 
NPRM refers to brokers, the same requirements are also applicable to 
freight forwarders.
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    \1\ Although 49 CFR 387.403 is currently suspended, it contains 
the same language making Sec.  387.307 applicable to freight 
forwarders. Thus, when the suspension is ultimately lifted, it will 
have no effect on the analysis here.
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V. Background

    On November 16, 2023, FMCSA published a final rule adopting 
regulations to implement 49 U.S.C. 13906(b) and (c) (88 FR 78656). The 
final rule became effective 60 days later, on January 16, 2024. 
However, compliance with the provisions relating to immediate 
suspension, financial failure or insolvency, and penalties for trust or 
surety providers who fail to comply with the regulations is not 
required until January 16, 2025, and full compliance with all of the 
final rule's provisions is not required until 2 years after the 
effective date, beginning on January 16, 2026.

[[Page 87534]]

VI. Discussion of the Proposed Rulemaking

    FMCSA proposes to extend the compliance date for the provisions of 
the Broker and Freight Forwarder Financial Responsibility rule relating 
to immediate suspension, financial failure or insolvency, and penalties 
for trust or surety providers who fail to comply with the regulations 
from January 16, 2025, to January 16, 2026, by amending the expiration 
date of the temporary rule governing current practices, Sec.  387.307T, 
and the compliance dates in Sec.  387.307. This extension will create a 
single compliance date for all provisions in the rule, allow FMCSA to 
implement the new online registration system, and ensure that filers 
are familiar with the online registration system and able to perform 
all duties mandated by the rule prior to the compliance date.
    The final rule discusses and requires online filing of documents. 
FMCSA always intended to build this functionality into its forthcoming 
online registration system.\2\ After engaging with stakeholders and 
work developing the new platform, the Agency has determined that it 
would not be an efficient use of resources to add the functionality to 
the legacy registration system. Instead, the Agency is focused on 
implementing the new online registration system and publishing the NPRM 
concerning the new system, as described in the Unified Agenda (see 
Regulation Identification Number 2126-AB56), as expeditiously as 
possible. By extending the compliance date for the Broker and Freight 
Forwarder Financial Responsibility final rule, FMCSA intends to allow 
the regulated community sufficient time to begin utilizing the new 
system and become familiar with it before compliance is required.
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    \2\ See 88 FR 78657 and 78666, Nov. 16, 2023.
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    In addition, FMCSA finds that without certain automated processes 
currently under development in the new system, effective compliance 
management would be compromised. Specifically, the Agency believes that 
tracking and processing drawdown notifications manually would be 
inefficient, leading to delays, higher administrative costs, and 
potential compliance risks for both FMCSA and the industry. The ability 
to efficiently suspend the operating authority of brokers and freight 
forwarders who fail to maintain the required financial security within 
the 7-day regulatory time frame depends upon both the regulated 
entities and the Agency being able to utilize a fully functional online 
filing system. For more detailed information regarding the launching of 
the new online registration system, stakeholders are encouraged to 
visit https://www.fmcsa.dot.gov/registration/resources-hub.
    For the reasons mentioned above, as well as to provide the public 
with the notice and opportunity for comment required by the 
Administrative Procedure Act (5 U.S.C. 553) FMCSA proposes to extend 
the compliance date for the provisions relating to immediate 
suspension, financial failure or insolvency, and penalties for trust or 
surety providers who fail to comply with the regulations. The new 
compliance date, January 16, 2026, would align with the date already 
set for the other provisions in the rule.

VII. Regulatory Analyses

A. Executive Order (E.O.) 12866 (Regulatory Planning and Review), E.O. 
13563 (Improving Regulation and Regulatory Review), E.O. 14094 
(Modernizing Regulatory Review), and DOT Regulatory Policies and 
Procedures

    FMCSA has considered the impact of this NPRM under E.O. 12866 (58 
FR 51735, Oct. 4, 1993), Regulatory Planning and Review, as 
supplemented by E.O. 13563 (76 FR 3821, Jan. 21, 2011), Improving 
Regulation and Regulatory Review, and amended by E.O. 14094 (88 FR 
21879, Apr. 11, 2023), Modernizing Regulatory Review, as well as the 
impact under DOT regulatory policies and procedures (DOT Order 2100.6A, 
dated June 7, 2021). This NPRM is not a significant regulatory action 
under section 3(f) of E.O. 12866, as amended. Accordingly, OMB has not 
reviewed it under that E.O.

B. Regulatory Flexibility Act (Small Entities)

    The Regulatory Flexibility Act (5 U.S.C. 601 et seq.), as amended 
by the Small Business Regulatory Enforcement Fairness Act of 1996 \3\ 
requires Federal agencies to consider the effects of the regulatory 
action on small business and other small entities and to minimize any 
significant economic impact. The term small entities comprises small 
businesses and not-for-profit organizations that are independently 
owned and operated and are not dominant in their fields, and 
governmental jurisdictions with populations of less than 50,000 (5 
U.S.C. 601(6)). Accordingly, DOT policy requires an analysis of the 
impact of all regulations on small entities, and mandates that agencies 
strive to lessen any adverse effects on these businesses.
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    \3\ Public Law 104-121, 110 Stat. 857 (Mar. 29, 1996).
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    This proposed rule would extend the compliance date for specific 
provisions of the 2023 final rule, ``Broker and Freight Forwarder 
Financial Responsibility,'' to January 16, 2026. The provisions already 
scheduled for compliance on January 16, 2026, would not be affected. 
The rule would impact small entities such as surety bond and trust fund 
providers, brokers, and freight forwarders. The extension would provide 
small entities with additional time to register in the new online 
registration system and understand its operations and functionalities. 
By delaying the submission of documentation for certain provisions 
until January 16, 2026, these entities would also realize de minimis 
cost savings.
    Consequently, I certify that this action would not have a 
significant economic impact on a substantial number of small entities.

C. Assistance for Small Entities

    In accordance with section 213(a) of the Small Business Regulatory 
Enforcement Fairness Act of 1996 (Pub. L. 104-121, 110 Stat. 857), 
FMCSA wants to assist small entities in understanding this proposed 
rule so they can better evaluate its potential effects on themselves 
and participate in the rulemaking initiative. If the proposed rule 
would affect your small business, organization, or governmental 
jurisdiction and you have questions concerning its provisions or 
options for compliance, please consult the person listed under FOR 
FURTHER INFORMATION CONTACT.
    Small businesses may send comments on the actions of Federal 
employees who enforce or otherwise determine compliance with Federal 
regulations to the Small Business Administration's Small Business and 
Agriculture Regulatory Enforcement Ombudsman (Office of the National 
Ombudsman, see https://www.sba.gov/about-sba/oversight-advocacy/office-national-ombudsman) and the Regional Small Business Regulatory Fairness 
Boards. The Ombudsman evaluates these actions annually and rates each 
agency's responsiveness to small business. If you wish to comment on 
actions by employees of FMCSA, call 1-888-REG-FAIR (1-888-734-3247). 
DOT has a policy regarding the rights of small entities to regulatory 
enforcement fairness and an explicit policy against retaliation for 
exercising these rights.

[[Page 87535]]

D. Unfunded Mandates Reform Act of 1995

    The Unfunded Mandates Reform Act of 1995 (2 U.S.C. 1531-1538) 
(UMRA) requires Federal agencies to assess the effects of their 
discretionary regulatory actions. The Act addresses actions that may 
result in the expenditure by State, local, or Tribal government, in the 
aggregate, or by the private sector of $200 million (which is the value 
equivalent of $100 million in 1995, adjusted for inflation to 2023 
levels) or more in any 1 year. This proposed rule would not result in 
such an expenditure, so the analytical requirements of UMRA do not 
apply.

E. Paperwork Reduction Act

    Due to the proposed change of compliance date, the existing 
Information Collection Requirements pertaining to broker and freight 
forwarder financial responsibilities would be updated at a later date.

F. E.O. 13132 (Federalism)

    A rule has implications for federalism under section 1(a) of E.O. 
13132 if it has ``substantial direct effects on the States, on the 
relationship between the national government and the States, or on the 
distribution of power and responsibilities among the various levels of 
government.''
    FMCSA has determined that this proposal would not have substantial 
direct costs on or for States, nor would it limit the policymaking 
discretion of States. Nothing in this document preempts any State law 
or regulation. Therefore, this proposal would not have sufficient 
federalism implications to warrant the preparation of a Federalism 
Impact Statement.

G. Privacy

    The Consolidated Appropriations Act, 2005,\4\ requires the Agency 
to assess the privacy impact of a regulation that will affect the 
privacy of individuals. This NPRM would not change any previously 
analyzed collections of personally identifiable information (PII).
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    \4\ Public Law 108-447, 118 Stat. 2809, 3268, note following 5 
U.S.C. 552a (Dec. 4, 2014).
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    The Privacy Act (5 U.S.C. 552a) applies only to Federal agencies 
and any non-Federal agency that receives records contained in a system 
of records from a Federal agency for use in a matching program.
    The E-Government Act of 2002,\5\ requires Federal agencies to 
conduct a PIA for new or substantially changed technology that 
collects, maintains, or disseminates information in an identifiable 
form. No new or substantially changed technology will collect, 
maintain, or disseminate information as a result of this proposed rule. 
Accordingly, FMCSA has not conducted a PIA for this proposed rule. 
However, FMCSA will publish a PIA and a System of Records Notice 
covering all information that will be collected in the new online 
registration system.
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    \5\ Public Law 107-347, sec. 208, 116 Stat. 2899, 2921 (Dec. 17, 
2002).
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    In addition, the Agency submitted a Privacy Threshold Assessment 
(PTA) to evaluate the risks and effects the proposed rulemaking might 
have on collecting, storing, and sharing personally identifiable 
information. The PTA has been submitted to FMCSA's Privacy Officer for 
review and preliminary adjudication and will be submitted to DOT's 
Privacy Officer for review and final adjudication.

H. E.O. 13175 (Indian Tribal Governments)

    This rulemaking does not have Tribal implications under E.O. 13175, 
Consultation and Coordination with Indian Tribal Governments, because 
it would not have a substantial direct effect on one or more Indian 
Tribes, on the relationship between the Federal Government and Indian 
Tribes, or on the distribution of power and responsibilities between 
the Federal Government and Indian Tribes.

I. National Environmental Policy Act of 1969

    FMCSA analyzed this proposed rule pursuant to the National 
Environmental Policy Act of 1969 (42 U.S.C. 4321 et seq.) and 
determined this action is categorically excluded from further analysis 
and documentation in an environmental assessment or environmental 
impact statement under FMCSA Order 5610.1 (69 FR 9680), appendix 2, 
paragraphs (6.k) and (6.q). The categorical exclusions (CEs) in 
paragraphs (6.k) and (6.q) cover broker activities and implementation 
of record preservation. The proposed requirements in this rule are 
covered by these CEs and do not have any effect on the quality of the 
environment.

J. Rulemaking Summary

    As required by 5 U.S.C. 553(b)(4), a summary of this proposed rule 
can be found on the FMCSA website at https://www.fmcsa.dot.gov/regulations/broker-freight-forwarder-compliance-date-extension and in 
the docket for this rulemaking, which is available online at 
www.regulations.gov.

List of Subjects

49 CFR Part 386

    Administrative practice and procedure, Brokers, Freight forwarders, 
Hazardous materials transportation, Highway safety, Highway and roads, 
Motor carriers, Motor vehicle safety, Penalties.

49 CFR Part 387

    Buses, Freight, Freight forwarders, Hazardous materials 
transportation, Highway safety, Insurance, Intergovernmental relations, 
Motor carriers, Motor vehicle safety, Moving of household goods, 
Penalties, Reporting and recordkeeping requirements, Surety bonds.

    For the reasons set forth in the preamble, FMCSA proposes to amend 
49 CFR parts 386 and 387 as follows:

PART 386--RULES OF PRACTICE FOR FMCSA PROCEEDINGS

0
1. The authority citation for part 386 continues to read as follows:

    Authority: 28 U.S.C. 2461 note; 49 U.S.C. 113, 1301 note, 
31306a; 49 U.S.C. chapters 5, 51, 131-141, 145-149, 311, 313, and 
315; and 49 CFR 1.81, 1.87.

0
2. Amend appendix B by revising and republishing paragraph (g)(24) to 
read as follows:

Appendix B to Part 386--Penalty Schedule: Violations and Monetary 
Penalties

* * * * *
    (g) * * *

    (24) Beginning on January 16, 2026, a surety company or 
financial institution for a broker or freight forwarder pursuant to 
Sec.  387.307 of this subchapter that violates 49 U.S.C. 13906(b) or 
(c) or Sec.  387.307:
    (i) Is liable to the United States for a penalty of $12,882 for 
each violation; and
    (ii) Will be ineligible to provide broker financial security for 
3 years.
* * * * *

PART 387--MINIMUM LEVELS OF FINANCIAL RESPONSIBILITY FOR MOTOR 
CARRIERS

0
3. The authority citation for part 387 continues to read as follows:

    Authority: 49 U.S.C. 13101, 13301, 13906, 13908, 14701, 31138, 
31139; sec. 204(a), Pub. L. 104-88, 109 Stat. 803, 941; and 49 CFR 
1.87.

0
4. Amend Sec.  387.307 as follows:
0
a. Revise the introductory text and paragraphs (b) and (c)(6);
0
b. Remove paragraph (c)(7); and
0
c. Redesignate paragraph (c)(8) as paragraph (c)(7).
    The revisions read as follows:

[[Page 87536]]

Sec.  387.307  Property broker surety bond or trust fund.

    This section is effective January 16, 2026.
* * * * *
    (b) Acceptable assets. Trust funds under this section must contain 
assets aggregating to $75,000 that can be liquidated to cash within 7 
calendar days. Acceptable assets included in any trust fund filed under 
this section are limited to cash, irrevocable letters of credit issued 
by a federally insured depository institution, and Treasury bonds.
    (c) * * *
    (6) An insurance company; or
* * * * *
0
5. Amend Sec.  387.307T by revising the introductory text to read as 
follows:


Sec.  387.307T  Property broker surety bond or trust fund.

    This section will remain in effect until January 16, 2026.
* * * * *

    Issued under the authority of delegation in 49 CFR 1.87.
Vincent G. White,
Deputy Administrator.
[FR Doc. 2024-25517 Filed 11-1-24; 8:45 am]
BILLING CODE 4910-EX-P


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