Federal Recordkeeping and Civil Action Limitation Act of 1981

[AI summary unavailable — showing source text] Federal Recordkeeping and Civil Action Limitation Act of 1981 - Prohibits any Federal agency, except as otherwise provided by the Internal Revenue Code, from: (1) requiring any person to maintain, prepare, or produce records of an event more than three years after the event has occurred; (2) commencing an action against a person for a violation of a regulation more than three years after such violation has occurred; or (3) penalizing any person for an action which violates a rule if the rule was not in effect at the time of such action. Declares that such prohibitions shall not apply in any case involving dangerous material, fraud, a willful violation, or a misleading statement of material fact.…