46 U.S.C. § 53303 — Persons eligible to establish funds
submitted 20 years ago by Pub. L. 109-304 to r/title-46-SHIPPING · 158 words · no verdicts yet
This section identifies the United States citizens who may establish construction reserve funds.
A construction reserve fund may be established by a United States citizen who (1) operates a vessel* in United States foreign or domestic commerce or fisheries*; (2) wholly or partly owns such a vessel; (3) operated such a vessel when the Government bought or requisitioned it; (4) wholly or partly owned such a vessel then; or (5) had acquired or was having built a vessel for that commerce or fisheries when the Government bought or requisitioned it.
A construction reserve fund may be established by a citizen of the United States that—
is operating a vessel* in the foreign or domestic commerce of the United States or in the fisheries*;
owns, in whole or in part, a vessel being operated in the foreign or domestic commerce of the United States or in the fisheries;
was operating a vessel in the foreign or domestic commerce of the United States or in the fisheries when it was bought or requisitioned by the United States Government;
owned, in whole or in part, a vessel being operated in the foreign or domestic commerce of the United States or in the fisheries when it was bought or requisitioned by the Government; or
had acquired or was having constructed a vessel to operate in the foreign or domestic commerce of the United States or in the fisheries when it was bought or requisitioned by the Government.
Source credit: (Pub. L. 109–304, § 8(c), Oct. 6, 2006, 120 Stat. 1587.)
- 2006Enacted · Pub. L. 109-304 · 120 Stat. 1587
A history note hasn’t been published yet. The record shows enactment by Pub. L. 109-304 on 2006-10-06.
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