46 U.S.C. § 40903 - U.S. Code - Unannotated Title 46. Shipping § 40903. Suspension or revocation of license

(a) Failure to maintain qualifications or to comply.--The Federal Maritime Commission, after notice and opportunity for a hearing, shall suspend or revoke an ocean transportation intermediary's license if the Commission finds that the ocean transportation intermediary--

(b) Failure to maintain bond, proof of insurance, or other surety.--The Commission may revoke an ocean transportation intermediary's license for failure to maintain a bond, proof of insurance, or other surety as required by section 40902(a) of this title.