Standards for State Product Liability Tort Litigation Act

[AI summary unavailable — showing source text] Standards for State Product Liability Tort Litigation Act - Declares that each State has authority to adopt legislation relating to product liability tort law in accordance with specified basic standards set forth in this Act. Establishes, as an independent instrumentality within the Department of Commerce, the Standards for Product Liability Tort Law Review Panel to review State product liability legislation, to determine whether such legislation is in accordance with the basic standards. Declares that such State legislation will be deemed to be in accordance with such basic standards, and hence an "approved State plan," if the Review Panel determines that such legislation provides for: (1) a product liability cause of action; (2) a statute of limitations; (3) a state of the art defense; (4) court appointment of expert witnesses; (5) comparative responsibility; and (6) the treatment of workplace injuries, in accordance with this Act. States that the product liability cause of action provided by this Act shall be in lieu of all existing causes of action for damage as a result of bodily injury caused by a product. Sets forth the procedure whereby the Review Panel shall examine produ…