46 USC 10506 - Trusts

U.S Code last checked for updates: May 19, 2024

§ 10506.

Trusts

(1)

the deductions are paid into a trust fund established only for the benefit of seamen employed by that employer, and the families and dependents of those seamen (or of those seamen, families, and dependents jointly with other seamen employed by other employers, and the families and dependents of the other seamen); and

(2)

the payments are held in trust to provide, from principal or interest, or both, any of the following benefits for those seamen and their families and dependents:

(A)

medical or hospital care, or both.

(B)

pensions on retirement or death of the seaman.

(C)

life insurance.

(D)

unemployment benefits.

(E)

compensation for illness or injuries resulting from occupational activity.

(F)

sickness, accident, and disability compensation.

(G)

purchasing insurance to provide any of the benefits specified in this section.

(Pub. L. 98–89, Aug. 26, 1983, 97 Stat. 571.)

cite as: 46 USC 10506