33 U.S.C. § 535e — Ownership
submitted 54 years ago by Pub. L. 92-434 to r/title-33-NAVIGATION-AND-NAVIGABLE-WATERS · 220 words · no verdicts yet
A bridge owner authorized under this subchapter can sell, assign, or transfer its rights, with the Secretary's approval. If a state later acquires a private bridge, any prior federal license or contract for it ends automatically. The state then operates the bridge as if it were the original applicant.
(a) Sale, assignment, or transfer; approval of Secretary. Nothing in this subchapter stops a person, corporation, or other entity that has been authorized to build, operate, and maintain an international bridge and its approaches from selling, assigning, or transferring the rights, powers, and privileges this subchapter gives it. But that sale, assignment, or transfer needs approval from the Secretary of the department running the Coast Guard.
(b) State status of original applicant upon acquisition of right, title, and interest after termination of private entity licenses, contracts, or orders. If a state, or a subdivision or instrumentality of a state, acquires a private individual's, corporation's, or other private entity's right, title, and interest in an international bridge, any license, contract, or order the Secretary issued to or made with that private party ends immediately. After that, the state, subdivision, or instrumentality that acquired the bridge operates and maintains it just as if it had been the original applicant — and section 535d of this title (the permitting process) no longer applies to it.
Nothing in this subchapter shall be deemed to prevent the individual, corporation, or other entity to which, pursuant to this subchapter, authorization has been given to construct, operate, and maintain an international bridge and the approaches thereto, from selling, assigning, or transferring the rights, powers, and privileges conferred by this subchapter: Provided, That such sale, assignment, or transfer shall be subject to approval by the Secretary of the department in which the Coast Guard is operating.
Upon the acquisition by a State or States, or by a subdivision or instrumentality thereof, of the right, title, and interest of a private individual, corporation, or other private entity, in and to an international bridge, any license, contract, or order issued or entered into by the Secretary of the department in which the Coast Guard is operating, to or with such private individual, corporation, or other private entity, shall be deemed terminated forthwith. Thereafter, the State, subdivision, or instrumentality so acquiring shall operate and maintain such bridge in the same manner as if it had been the original applicant, and the provisions of section 535d 1 of this title shall not apply.
Source credit: (Pub. L. 92–434, § 8, Sept. 26, 1972, 86 Stat. 732; Pub. L. 114–120, title III, § 306(b)(6)(B), Feb. 8, 2016, 130 Stat. 56.)
- 1972Enacted · Pub. L. 92-434 · 86 Stat. 732
- 2016Amended · Pub. L. 114-120 · 130 Stat. 56
A history note hasn’t been published yet. The record shows enactment by Pub. L. 92-434 on 1972-09-26.
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