46 USC 56501 - Definition

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

§ 56501.

Definition

In this chapter, the term “essential vessel” means a vessel that is—

(1)

(A)

security for a mortgage indebtedness to the United States Government; or

(B)

constructed under this subtitle or required by a contract under this subtitle to be operated on a certain essential foreign trade route; and

(2)

necessary in the interests of commerce and national defense to be maintained in condition for prompt use.

(Pub. L. 109–304, § 8(c), Oct. 6, 2006, 120 Stat. 1656.)

cite as: 46 USC 56501