Sec. 3532. Requirements for purchasing federally auctioned vessels
184 words·~1 min read·
/bill/118/hr/8070/eh/section-3532A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Chapter 571 of title 46, United States Code, is amended by adding at the end the following: To be eligible to purchase a covered vessel from the Federal Government, a person shall provide proof of— liability insurance for the operator of such covered vessel; financial resources sufficient to cover maintenance costs of such covered vessel; and with respect to a covered vessel requiring documentation under chapter 121, an admiralty bond or stipulation. In this section, the term covered vessel means— a government owned vessel disposed of in accordance with this part and section 548 of title 40; a vessel seized or forfeited pursuant to any law, and auctioned by the Federal Government, including a vessel seized or forfeited pursuant to section 7301 or 7302 of the Internal Revenue Code of 1986; or a fishing vessel seized or forfeited pursuant to section 310 of the Magnuson-Stevens Fishery Conservation and Management Act ( 16 U.S.C. 1860 ). .
The analysis for chapter 571 of title 46, United States Code, is amended by adding at the end the following: 57112. Requirements for purchasing federally auctioned vessels. .
Connectionstraces to 1
Traces to 1 document
U.S. Code
Citation graph
cites case law
Sec. 3532
Requirements for purchasing federally auctioned vessels
Cites 1Cited by 0 across 0 sources