46 USC 57301 - Definitions

U.S Code last checked for updates: Apr 28, 2024

§ 57301.

Definitions

In this chapter:

(1)

New vessel.—

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)

Obsolete vessel.—

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.

(Pub. L. 109–304, § 8(c), Oct. 6, 2006, 120 Stat. 1662.)

cite as: 46 USC 57301