§53905 — Title 46 Shipping | U.S. Code

Summary

A U.S. agency may get the insurance this chapter offers from the Secretary of Transportation if the President approves. That rule does not apply where 40 U.S.C. 17302 or 17303 say otherwise. With presidential approval, the Secretary of Transportation can insure the Department of Defense and other agencies the President names without charging a premium if those agencies agree to pay for any covered losses. The President’s signature (or an official he names) on that agreement counts as the approval called for in section 53902(a).

Title 46, §53905

Shipping — Source: USLM XML via OLRC

(a)With the approval of the President, an agency of the United States Government may obtain insurance provided for by this chapter from the Secretary of Transportation, except as provided in section 17302 and 17303 of title 40.

(b)With the approval of the President, the Secretary of Transportation may provide insurance under this chapter at the request of the Secretary of Defense and other agencies the President may prescribe, without payment of an insurance premium if the Secretary of Defense or agency agrees to indemnify the Secretary of Transportation against loss covered by the insurance. The Secretary of Defense and agencies may make such an indemnity agreement.

(c)The signature of the President (or an official designated by the President) on the agreement shall be treated as the approval required by section 53902(a) of this title.

Historical and Revision Notes

Revised SectionSource (U.S. Code)Source (Statutes at Large) 5390546 App.:1285.June 29, 1936, ch. 858, title XII, § 1205, as added Sept. 7, 1950, ch. 906, 64 Stat. 774; Pub. L. 105–261, div. A, title X, § 1071(a), Oct. 17, 1998, 112 Stat. 2137.

§53905 Agency Insurance

Summary

Title 46, §53905

Notes & Related Subsidiaries

Historical and Revision Notes

Citations & Metadata