46 U.S.C. § 57514 — Qualifications of bidders
submitted 20 years ago by Pub. L. 109-304 to r/title-46-SHIPPING · 85 words · no verdicts yet
A translation hasn’t been published for this section yet. The official text below is complete and authoritative.
In deciding whether to award a charter to a bidder, the Secretary of Transportation shall consider—
the bidder’s financial resources, credit standing, and practical experience in operating vessels; and
other factors a prudent business person would consider in entering into a transaction involving a large capital investment.
The Secretary may not charter a vessel* to a person appearing to lack sufficient capital, credit, and experience to operate the vessel successfully over the period covered by the charter.
Source credit: (Pub. L. 109–304, § 8(c), Oct. 6, 2006, 120 Stat. 1666.)
- 2006Enacted · Pub. L. 109-304 · 120 Stat. 1666
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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