§57301 — Title 46 Shipping | U.S. Code

Summary

Defines what counts as a new vessel and an obsolete vessel for this chapter. A new vessel is one built under this subtitle and bought within 2 years, or built in a U.S. shipyard on private account and documented under U.S. law. An obsolete vessel is at least 1,350 gross tons, which the Secretary of Transportation believes should be replaced because of age, obsolescence, or other reasons, and that a U.S. citizen owned for at least 3 years immediately before acquisition.

Title 46, §57301

Shipping — Source: USLM XML via OLRC

In this chapter:

(1)The term “new vessel” means a vessel—

(A)constructed under this subtitle and acquired within 2 years after the date of completion; or

(B)constructed in a domestic shipyard on private account and not under this subtitle, and documented under the laws of the United States.

(2)The term “obsolete vessel” means a vessel that—

(A)is of at least 1,350 gross tons;

(B)the Secretary of Transportation believes should, because of its age, obsolescence, or other reasons, be replaced in the public interest; and

(C)has been owned by a citizen of the United States for at least 3 years immediately before its acquisition under this chapter.

Notes & Related Subsidiaries

Historical and Revision Notes

Revised SectionSource (U.S. Code)Source (Statutes at Large) 5730146 App.:1160(a).June 29, 1936, ch. 858, title V, § 510(a), as added Aug. 4, 1939, ch. 417, § 7, 53 Stat. 1183; July 17, 1952, ch. 939, § 7, 66 Stat. 762; Pub. L. 85–332, Feb. 20, 1958, 72 Stat. 17; Pub. L. 87–755, Oct. 5, 1962, 76 Stat. 751; Pub. L. 91–469, § 12(a), Oct. 21, 1970, 84 Stat. 1022; Pub. L. 97–31, § 12(91), Aug. 6, 1981, 95 Stat. 161. In paragraph (1)(A), the words “or is purchased under section 1204 of this Appendix, as amended, by the person turning in an obsolete vessel under this section” are omitted because the purchase authority under 46 App. U.S.C. 1204 was impliedly repealed by section 14 of the Merchant Ship Sales Act of 1946 (50 App. U.S.C. 1735 note).

§57301 Definitions

Summary

Title 46, §57301

Notes & Related Subsidiaries

Historical and Revision Notes

Citations & Metadata