2013 US Code
Title 46 - Shipping
Subtitle V - Merchant Marine (§§ 50101 - 58109)
Part A - General (§§ 50101 - 50504)
Chapter 503 - ADMINISTRATIVE (§§ 50301 - 50307)
Section 50303 - Operating property and extending term of notes
Publication Title | United States Code, 2012 Edition, Supplement 1, Title 46 - SHIPPING |
Category | Bills and Statutes |
Collection | United States Code |
SuDoc Class Number | Y 1.2/5: |
Contained Within | Title 46 - SHIPPING Subtitle V - Merchant Marine Part A - General CHAPTER 503 - ADMINISTRATIVE Sec. 50303 - Operating property and extending term of notes |
Contains | section 50303 |
Date | 2013 |
Laws in Effect as of Date | January 16, 2014 |
Positive Law | Yes |
Disposition | standard |
Source Credit | Pub. L. 109-304, §8(b), Oct. 6, 2006, 120 Stat. 1564; Pub. L. 110-181, div. C, title XXXV, §3512, Jan. 28, 2008, 122 Stat. 594. |
Statutes at Large References | 49 Stat. 1986 50 Stat. 839 52 Stat. 953 95 Stat. 158 120 Stat. 1564 122 Stat. 594 |
Public Law References | Public Law 97-31, Public Law 109-304, Public Law 110-181 |
Download PDF
(a)
(1) operate or lease docks, wharves, piers, vessels, or real property under the Secretary's control, except that the prior consent of the Secretary of Defense for such use shall be required with respect to any vessel in the Ready Reserve Force or in the National Defense Reserve Fleet which is maintained in a retention status for the Department of Defense; and
(2) make extensions and accept renewals of—
(A) promissory notes and other evidences of indebtedness on property; and
(B) mortgages and other contracts securing the property.
(b)
(c)
(Pub. L. 109–304, §8(b), Oct. 6, 2006, 120 Stat. 1564; Pub. L. 110–181, div. C, title XXXV, §3512, Jan. 28, 2008, 122 Stat. 594.)
Revised Section | Source (U.S. Code) | Source (Statutes at Large) |
---|---|---|
50303 | 46 App.:1112. | June 29, 1936, ch. 858, title II, §202, 49 Stat. 1986; Aug. 26, 1937, ch. 822, §1, 50 Stat. 839; June 23, 1938, ch. 600, §1, 52 Stat. 953; Pub. L. 97–31, §12(60), Aug. 6, 1981, 95 Stat. 158. |
In subsection (a), the words "Notwithstanding any other provision of law" are omitted as unnecessary. In paragraph (1), the word "lands" is omitted as included in "real property". In paragraph (2)(A), the word "promissory" is added for clarity. The words "hereby transferred", referring to the transfer under the first sentence of section 202 of the Merchant Marine Act, 1936 (repealed by section 12(60)(A) of Public Law 97–31), are omitted as obsolete.
Subsection (b) is substituted for "in accordance with good business methods and on such terms and conditions as he determines to effectuate the policy of this chapter" and "upon such terms and conditions as he may prescribe in accordance with sound business practice" for consistency and to eliminate unnecessary words.
AMENDMENTS2008—Subsec. (a)(1). Pub. L. 110–181 inserted "vessels," after "piers," and substituted "control, except that the prior consent of the Secretary of Defense for such use shall be required with respect to any vessel in the Ready Reserve Force or in the National Defense Reserve Fleet which is maintained in a retention status for the Department of Defense;" for "control;".
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.