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46 U.S.C. § 57301 — Definitions

submitted 20 years ago by Pub. L. 109-304 to r/title-46-SHIPPING · 118 words · no verdicts yet

in plain englishAI-generated · not legal advice

This law defines two terms for this chapter: "new vessel," meaning a vessel either built under this subtitle and acquired within two years, or built privately in a U.S. shipyard and U.S.-documented; and "obsolete vessel," meaning an older, large vessel that a citizen has owned for at least three years.

In this chapter: (1) New vessel. This means a vessel that either (A) was built under this subtitle and got acquired within two years after it was finished, or (B) was built in a U.S. shipyard on private account, without being built under this subtitle, and is documented under U.S. law. (2) Obsolete vessel. This means a vessel that (A) is at least 1,350 gross tons; (B) the Secretary of Transportation believes should be replaced, in the public interest, because of its age, being outdated, or other reasons; and (C) has been owned by a U.S. citizen for at least three years right before it's acquired under this chapter.
the actual law source: uscode.house.gov ↗public domain

In this chapter:

(1)New vessel.—

The term “new vessel” means a vessel—

(A)

constructed under this subtitle and acquired within 2 years after the date of completion; or

(B)

constructed in a domestic shipyard on private account and not under this subtitle, and documented under the laws of the United States.

(2)Obsolete vessel.—

The term “obsolete vessel” means a vessel that—

(A)

is of at least 1,350 gross tons;

(B)

the Secretary of Transportation believes should, because of its age, obsolescence, or other reasons, be replaced in the public interest; and

(C)

has been owned by a citizen of the United States for at least 3 years immediately before its acquisition under this chapter.

Source credit: (Pub. L. 109–304, § 8(c), Oct. 6, 2006, 120 Stat. 1662.)

history & why it existsrecord from the source credit
  • 2006Enacted · Pub. L. 109-304 · 120 Stat. 1662

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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