Title 46, ShippingRelease 119-102
§57304 Eligible Acquisition Dates
Title 46 › Subtitle V — Merchant Marine › Part F — Government-Owned Merchant Vessels › CHAPTER 573 — VESSEL TRADE-IN PROGRAM › § 57304
Summary
The owner decides when an old (obsolete) vessel will be taken under this rule. They can choose either when they sign a contract to build or buy a new vessel, or within 5 days after the new vessel is actually delivered to them.
Full Legal Text
Title 46, §57304
Shipping, Source: USLM XML via OLRC
At the option of the owner, the acquisition of an obsolete vessel under this chapter shall occur—
(1)when the owner contracts for the construction or purchase of a new vessel; or
(2)within 5 days of the actual date of delivery of the new vessel to the owner.
Legislative History
Notes & Related Subsidiaries
Historical and Revision Notes
Revised SectionSource (U.S. Code)Source (Statutes at Large) 5730446 App.:1160(b) (2d sentence).June 29, 1936, ch. 858, title V, § 510(b) (2d sentence), as added Aug. 4, 1939, ch. 417, § 7, 53 Stat. 1184; Pub. L. 87–401, subdiv. (1), Oct. 5, 1961, 75 Stat. 833; Pub. L. 91–469, § 35(a), Oct. 21, 1970, 84 Stat. 1035; Pub. L. 97–31, § 12(91), Aug. 6, 1981, 95 Stat. 161. The words “At the option of the owner” are substituted for “if the owner so requests” for clarity.
Reference
Citations & Metadata
Citation
46 U.S.C. § 57304
Title 46, Shipping
Last Updated
Aug 21, 2026
Release point: 119-102