There is a newer version of the US Code
2021
2020
2019
2018
2017
Other previous versions
View our newest version here

2012 US Code
Title 46 - Shipping
Subtitle V - Merchant Marine (§§ 50101 - 58109)
Part E - Control of Merchant Marine Capabilities (§§ 56101 - 56504)
Chapter 563 - EMERGENCY ACQUISITION OF VESSELS (§§ 56301 - 56307)
Section 56303 - Compensation

View Metadata
Metadata
Publication TitleUnited States Code, 2012 Edition, Title 46 - SHIPPING
CategoryBills and Statutes
CollectionUnited States Code
SuDoc Class NumberY 1.2/5:
Contained WithinTitle 46 - SHIPPING
Subtitle V - Merchant Marine
Part E - Control of Merchant Marine Capabilities
CHAPTER 563 - EMERGENCY ACQUISITION OF VESSELS
Sec. 56303 - Compensation
Containssection 56303
Date2012
Laws in Effect as of DateJanuary 15, 2013
Positive LawYes
Dispositionstandard
Source CreditPub. L. 109-304, §8(c), Oct. 6, 2006, 120 Stat. 1655.
Statutes at Large References49 Stat. 1985, 2015
53 Stat. 1255
70 Stat. 985
95 Stat. 165
120 Stat. 1655
Public Law ReferencesPublic Law 97-31, Public Law 109-304

Download PDF

EMERGENCY ACQUISITION OF VESSELS - 46 U.S.C. § 56303 (2012)
§56303. Compensation

(a) In General.—As soon as practicable, the Secretary of Transportation shall determine and pay just compensation for a vessel requisitioned under this chapter.

(b) Factors Not Affecting Value.—The value of a vessel may not be considered enhanced by the circumstances requiring its requisition. Consequential damages arising from the requisition may not be paid.

(c) Effect of Construction-Differential Subsidy.—

(1) If paid.—If a construction-differential subsidy has been paid for the vessel, the value of the vessel at the time of requisition shall be determined under section 802 of the Merchant Marine Act, 1936.

(2) If not paid.—If a construction-differential subsidy has not been paid for the vessel, the value of any national defense features previously paid for by the United States Government shall be excluded.


(d) Loss or Damage During Charter.—If a vessel is lost or damaged by a risk assumed by the Government under the charter, but a valuation for the vessel or a means of compensation has not been agreed to, the Secretary shall pay just compensation for the loss or damage, to the extent the person is not reimbursed through insurance.

(Pub. L. 109–304, §8(c), Oct. 6, 2006, 120 Stat. 1655.)

Historical and Revision Notes
Revised

Section

Source (U.S. Code)Source (Statutes at Large)
56303(a) 46 App.:1242(a) (3d sentence words before 2d comma), (d) (1st par. words before 2d comma). June 29, 1936, ch. 858, title IX, §902(a) (3d, last sentences), (b), (d) (1st par. words before 2d comma), 49 Stat. 2015, 2016; Aug. 7, 1939, ch. 555, §3, 53 Stat. 1255; Aug. 3, 1956, ch. 929, §3, 70 Stat. 985; Pub. L. 97–31, §12(131), Aug. 6, 1981, 95 Stat. 165.
56303(b) 46 App.:1242(a) (3d sentence words after 2d comma, last sentence).
56303(c) 46 App.:1242(b).
56303(d) 46 App.:1242(c) (last sentence).
References in Text

Section 802 of the Merchant Marine Act, 1936, referred to in subsec. (c)(1), is section 802 of act June 29, 1936, ch. 858, 49 Stat. 1985, which is set out as a note under section 53101 of this title.

Disclaimer: These codes may not be the most recent version. The United States Government Printing Office may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the US site. Please check official sources.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.