Title 46 › Subtitle V — Merchant Marine › Part C — Financial Assistance Programs › CHAPTER 534 — TANKER SECURITY FLEET › § 53401
Defines key words used in the chapter. Foreign commerce means trade between the United States (including its territories and D.C.) and a foreign country, or trade between foreign countries. Participating fleet vessel means a product tank vessel covered by an operating agreement under this chapter on or after January 1, 2022, that meets one of paragraphs (1)–(4) of section 53402(b) and is no more than 20 years old. Person includes corporations, partnerships, and associations created or allowed by U.S., state, territorial, district, or foreign law. Product tank vessel means a double-hulled tank ship that can carry more than two separate grades of refined petroleum products at once. Program participant means an owner or operator who signs an operating agreement with the Secretary under section 53403. Secretary means the Secretary of Transportation unless the context says otherwise. United States citizen trust means a trust whose trustees are U.S. citizens and that includes affidavits about beneficiaries so no one would hold more than 25 percent of the power to influence or limit a trustee’s authority over vessel ownership or operation; it excludes trusts where non‑U.S. persons can direct or remove trustees unless the trust limits their authority to 25 percent or less, and it may include trusts where a non‑U.S. person owns more than 25 percent of the beneficial interest. Long term charter means any time charter of a product tank vessel to the U.S. Government that runs continuously for more than 180 days, including options.
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Legislative History
Reference
Citation
46 U.S.C. § 53401
Title 46, Shipping
Last Updated
Sep 22, 2026
Release point: 119-110