Title 46 — ShippingRelease 119-73
§58102 Default on payment or maintenance of reserves
Title 46 › Subtitle Subtitle V— - Merchant Marine › Part Part G— - Restrictions and Penalties › Chapter CHAPTER 581— - RESTRICTIONS AND PENALTIES › § 58102
Summary
The Secretary of Transportation may control the staff and pay of any operating-differential-subsidy recipient if it defaults on obligations to the Secretary or fails to keep all reserves required by this subtitle.
Full Legal Text
Title 46, §58102
Shipping — Source: USLM XML via OLRC
The Secretary of Transportation may supervise the number and compensation of all officers and employees of a contractor under the operating-differential subsidy program or a charterer under chapter 575 of this title, receiving an operating-differential subsidy, if the contractor or charterer—
(1)is in default on a mortgage, note, purchase contract, or other obligation to the Secretary; or
(2)has not maintained, in a manner satisfactory to the Secretary, all of the reserves provided for in this subtitle.
Legislative History
Notes & Related Subsidiaries
Historical and Revision Notes
Revised SectionSource (U.S. Code)Source (Statutes at Large) 5810246 App.:1223(b).June 29, 1936, ch. 858, title VIII, § 805(b), 49 Stat. 2012; Pub. L. 97–31, § 12(122), Aug. 6, 1981, 95 Stat. 164; Pub. L. 104–239, § 4(b)(2), Oct. 8, 1996, 110 Stat. 3131. The words “contractor under the operating-differential subsidy program or a charterer under chapter 575 of this title, receiving an operating-differential subsidy” are substituted for “contractor under part A of subchapter VI of this chapter or subchapter VII of this chapter receiving an operating-differential subsidy” for the reasons explained under section 58101.
Reference
Citations & Metadata
Citation
46 U.S.C. § 58102
Title 46 — Shipping
Last Updated
Apr 6, 2026
Release point: 119-73