Title 46, ShippingRelease 119-110
§53302 Authority for Construction Reserve Funds
Title 46 › Subtitle V — Merchant Marine › Part C — Financial Assistance Programs › CHAPTER 533 — CONSTRUCTION RESERVE FUNDS › § 53302
Summary
Eligible persons under section 53303 may create a construction reserve fund for vessel construction or purchase; it must follow this chapter and joint Treasury/Transportation rules.
Full Legal Text
Title 46, §53302
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(a)General Authority.—
An eligible person under section 53303 of this title may establish a construction reserve fund for the construction, reconstruction, reconditioning, or acquisition of a new vessel or for other purposes authorized by this chapter.
(b)Application of Certain Laws and Regulations.—
The fund shall be established, maintained, expended, and used as provided by this chapter and regulations prescribed jointly by the Secretary of Transportation and the Secretary of the Treasury.
Legislative History
Notes & Related Subsidiaries
Historical and Revision Notes
Revised SectionSource (U.S. Code)Source (Statutes at Large) 53302(a)46 App.:1161(b) (1st sentence words before 6th comma and between 10th and 16th commas).June 29, 1936, ch. 858, title V, § 511(b) (1st sentence words before 6th comma and between 10th and 16th commas, last sentence), 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; Pub. L. 97–31, § 12(92)(A), Aug. 6, 1981, 95 Stat. 161. 53302(b)46 App.:1161(b) (last sentence). In subsection (a), the words “necessary to carrying out the policy set forth in section 1101 of this Appendix” are omitted as unnecessary.
Reference
Citations & Metadata
Citation
46 U.S.C. § 53302
Title 46, Shipping
Last Updated
Sep 22, 2026
Release point: 119-110