Title 46 — ShippingRelease 119-73
§53303 Persons eligible to establish funds
Title 46 › Subtitle Subtitle V— - Merchant Marine › Part Part C— - Financial Assistance Programs › Chapter CHAPTER 533— - CONSTRUCTION RESERVE FUNDS › § 53303
Summary
A U.S. citizen may establish a construction reserve fund if in one of five situations: operating or partly owning a vessel in domestic or foreign commerce or fisheries; or operating, owning, acquiring, or having a vessel built when the U.S. Government bought or took it.
Full Legal Text
Title 46, §53303
Shipping — Source: USLM XML via OLRC
A construction reserve fund may be established by a citizen of the United States that—
(1)is operating a vessel in the foreign or domestic commerce of the United States or in the fisheries;
(2)owns, in whole or in part, a vessel being operated in the foreign or domestic commerce of the United States or in the fisheries;
(3)was operating a vessel in the foreign or domestic commerce of the United States or in the fisheries when it was bought or requisitioned by the United States Government;
(4)owned, in whole or in part, a vessel being operated in the foreign or domestic commerce of the United States or in the fisheries when it was bought or requisitioned by the Government; or
(5)had acquired or was having constructed a vessel to operate in the foreign or domestic commerce of the United States or in the fisheries when it was bought or requisitioned by the Government.
Legislative History
Notes & Related Subsidiaries
Historical and Revision Notes
Revised SectionSource (U.S. Code)Source (Statutes at Large) 5330346 App.:1161(b) (1st sentence words between 6th and 10th commas).June 29, 1936, ch. 858, title V, § 511(b) (1st sentence words between 6th and 10th commas), as added Oct. 10, 1940, ch. 849, 54 Stat. 1106; June 17, 1943, ch. 130, subdiv. (a), 57 Stat. 157; July 17, 1952, ch. 939, § 9, 66 Stat. 762.
Reference
Citations & Metadata
Citation
46 U.S.C. § 53303
Title 46 — Shipping
Last Updated
Apr 6, 2026
Release point: 119-73