2016 US Code
Title 46 - Shipping
Subtitle V - Merchant Marine
Part F - Government-Owned Merchant Vessels
Chapter 571 - General Authority
Sec. 57104 - Acquisition of vessels from sale of obsolete vessels

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Citation 46 U.S.C. § 57104 (2016)
Section Name §57104. Acquisition of vessels from sale of obsolete vessels
Section Text

(a) In General.—The Secretary of Transportation may acquire suitable documented vessels with amounts in the Vessel Operations Revolving Fund derived from the sale of obsolete vessels in the National Defense Reserve Fleet.

(b) Valuation.—The acquired and obsolete vessels shall be valued at their scrap value in domestic or foreign markets as of the date of the acquisition for or sale from the Fleet. However, the value assigned to those vessels shall be determined on the same basis, with consideration given to the fair value of the cost of moving the vessel sold from the Fleet to the place of scrapping.

(c) Costs Incident to Lay-Up.—Costs incident to the lay-up of the vessel acquired under this section may be paid from amounts in the Fund.

(d) Transfers to Non-Citizens.—A vessel sold from the Fleet under this section may be scrapped in an approved foreign market without obtaining additional separate approval from the Secretary to transfer the vessel to a person not a citizen of the United States.

Source Credit

(Pub. L. 109–304, §8(c), Oct. 6, 2006, 120 Stat. 1660.)

Editorial Notes
Historical and Revision Notes
Revised

Section

Source (U.S. Code)Source (Statutes at Large)
57104 46 App.:1160(i). June 29, 1936, ch. 858, title V, §510(i), as added Pub. L. 86–575, July 5, 1960, 74 Stat. 312; Pub. L. 89–254, §1, Oct. 10, 1965, 79 Stat. 980; Pub. L. 91–469, §13, Oct. 21, 1970, 84 Stat. 1022; Pub. L. 93–605, §1, Jan. 2, 1975, 88 Stat. 1965; Pub. L. 95–177, Nov. 15, 1977, 91 Stat. 1368; Pub. L. 97–31, §12(91), Aug. 6, 1981, 95 Stat. 161; Pub. L. 101–595, title VII, §704, Nov. 16, 1990, 104 Stat. 2994.

In subsection (b), the words "vessel sold from the Fleet" are substituted for "traded-out vessel" for clarity and consistency.

In subsection (d), the words "without obtaining additional separate approval from the Secretary to transfer the vessel to a person not a citizen of the United States" are substituted for "Notwithstanding the provisions of sections 808 and 835 of this Appendix" for clarity and to avoid the cross references.

Publication Title United States Code, 2012 Edition, Supplement 4, 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 F - Government-Owned Merchant Vessels
CHAPTER 571 - GENERAL AUTHORITY
Sec. 57104 - Acquisition of vessels from sale of obsolete vessels
Contains section 57104
Date 2016
Laws In Effect As Of Date January 6, 2017
Positive Law Yes
Disposition standard
Statutes at Large References 74 Stat. 312
79 Stat. 980
84 Stat. 1022
88 Stat. 1965
91 Stat. 1368
95 Stat. 161
104 Stat. 2994
120 Stat. 1660
Public Law References Public Law 86-575, Public Law 89-254, Public Law 91-469, Public Law 93-605, Public Law 95-177, Public Law 97-31, Public Law 101-595, Public Law 109-304
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