46 U.S.C. § 57102 — Disposition of vessels
submitted 20 years ago by Pub. L. 109-304 to r/title-46-SHIPPING · 127 words · no verdicts yet
A translation hasn’t been published for this section yet. The official text below is complete and authoritative.
If the Secretary of Transportation determines that a vessel* is an obsolete vessel*, the Secretary may dispose of such vessel (by sale or by purchase of disposal services).
The sale of a vessel under subsection (a) shall be made on a best value basis. The purchaser does not have to be a citizen of the United States. The purchaser shall provide a surety bond, with a surety approved by the Secretary, to ensure that the vessel will not be operated in the foreign trade of the United States at any time within 10 years after the sale, in competition with a vessel owned by a citizen of the United States and documented under the laws of the United States.
Source credit: (Pub. L. 109–304, § 8(c), Oct. 6, 2006, 120 Stat. 1658; Pub. L. 118–31, div. C, title XXXV, § 3514(j)(4), Dec. 22, 2023, 137 Stat. 811.)
- 2006Enacted · Pub. L. 109-304 · 120 Stat. 1658
- 2023Amended · Pub. L. 118-31 · 137 Stat. 811
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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