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I'm no attorney-but this is how I understand things as a layman.
Risk is a broad term and I don't know if you are talking to the safety and health or the finanical well being of employees and buyers.
As far as the safety and health of employees there are hundreds of different specific regulations (that carry the weight of law and are mostly administered by the Occupational Safety and Health Administration or a state agency) that address different industries and different scenarios, but as an overall approach the General Duty Clause lays the foundation for pretty much any of those https://www.osha.gov/pls/oshaweb/owadisp.show_document?p_id=3359&p_table=oshact
The "code" reference probably relates to plumbing, electrical, building etc. codes. They certainly regulate various trades and carry penalties of various types (generally financial or with financial consequences, not criminal) for failure to follow them.
As far as industry guidelines and manufacturers guidelines, failure to follow those certainly expose the builders to potential civil lawsuits to compensate someone for alleged damage as a result of that failure.
If there was a situation that resulted in a charge of criminal negligance that results in injury, then I imagine any of the codes, regulations and installation would be brought in to support (or refute) such charges.
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