46 U.S.C. § 31329 — Court sales of documented vessels
submitted 38 years ago by Pub. L. 100-710 to r/title-46-SHIPPING · 207 words · no verdicts yet
A translation hasn’t been published for this section yet. The official text below is complete and authoritative.
A documented vessel* may be sold by order of a district court only to—
a person eligible to own a documented vessel* under section 12103 of this title; or
a mortgagee of that vessel.
When a vessel is sold to a mortgagee not eligible to own a documented vessel—
the vessel must be held by the mortgagee for resale;
the vessel held by the mortgagee is subject to chapter 563 of this title; and
the sale of the vessel to the mortgagee is not a sale to a person not a citizen of the United States under section 12132 of this title.
Unless waived by the Secretary of Transportation, a person purchasing a vessel by court order under subsection (a)(1) of this section or from a mortgagee under subsection (a)(2) of this section must document the vessel under chapter 121 of this title.
The vessel may be operated by the mortgagee not eligible to own a documented vessel only with the approval of the Secretary of Transportation.
A sale of a vessel contrary to this section is void.
This section does not apply to a documented vessel that has been operated only for pleasure.
Source credit: (Pub. L. 100–710, title I, § 102(c), Nov. 23, 1988, 102 Stat. 4747; Pub. L. 104–324, title XI, § 1118, Oct. 19, 1996, 110 Stat. 3973; Pub. L. 109–304, § 15(32), Oct. 6, 2006, 120 Stat. 1704; Pub. L. 111–281, title IX, § 913(c), Oct. 15, 2010, 124 Stat. 3017.)
- 1988Enacted · Pub. L. 100-710 · 102 Stat. 4747
- 1996Amended · Pub. L. 104-324 · 110 Stat. 3973
- 2006Amended · Pub. L. 109-304 · 120 Stat. 1704
- 2010Amended · Pub. L. 111-281 · 124 Stat. 3017
A history note hasn’t been published yet. The record shows enactment by Pub. L. 100-710 on 1988-11-23.
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