27.1026 Priorities in event of insolvency or bankruptcy of importer.

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In case of the insolvency or bankruptcy of an importer, all debts, including duties due the governments of the United States and American Samoa, shall be first satisfied, and any assignee or trustee who fails to recognize this priority shall be personally liable.

History: 1963, PL 8-1; 2008, PL 30-36.