46 U.S.C. § 53302 — Authority for construction reserve funds
submitted 20 years ago by Pub. L. 109-304 to r/title-46-SHIPPING · 75 words · no verdicts yet
This section authorizes eligible persons to establish construction reserve funds and sets governing rules.
(a) An eligible person under section 53303 may establish a construction reserve fund for building, rebuilding, reconditioning, or acquiring a new vessel*, or another purpose this chapter authorizes. (b) The fund must be established, maintained, spent, and used under this chapter and joint Transportation-Treasury regulations.
An eligible person under section 53303 of this title may establish a construction reserve fund for the construction, reconstruction, reconditioning, or acquisition of a new vessel* or for other purposes authorized by this chapter.
The fund shall be established, maintained, expended, and used as provided by this chapter and regulations prescribed jointly by the Secretary of Transportation and the Secretary of the Treasury.
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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