Environmental Lender and Fiduciaries Liability Amendments Act of 1995

Summary

Environmental Lender and Fiduciaries Liability Amendments Act of 1995 - Amends the Comprehensive Environmental Response, Compensation, and Liability Act of 1980 to exclude from the definition of "owner or operator," for purposes of limiting liability for releases of hazardous substances, a person who, without participating in the management of a vessel or facility, holds indicia of ownership primarily to protect a security interest in such vessel or facility. Defines "indicia of ownership" as an interest in property acquired: (1) for securing payment of a loan or indebtedness or the performance of an obligation; (2) evidencing ownership under a lease financing transaction where the lessor does not initially select or ordinarily control the daily operation or maintenance of the property; or (3) in the course of protecting a security interest or right of reimbursement or subrogation under a guaranty. Makes liable for any release or threatened release of a hazardous substance attributable to their activities: (1) a holder of a security interest who takes certain actions concerning transfer, protection, or abandonment of property; and (2) a fiduciary or trustee who acquires ownership or control of a property. Makes conforming amendments to the Solid Waste Disposal Act.

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3 official files

• Introduced in House (text)

  Introduced in House · EN · 13 February 1995

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• Introduced in House (PDF)

  Introduced in House · EN · 13 February 1995

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• Introduced in House

  summary · EN · 13 February 1995

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