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2018 US Code
Title 46 - Shipping
Subtitle V - Merchant Marine
Part C - Financial Assistance Programs
Chapter 533 - Construction Reserve Funds
Sec. 53308 - Order and proportions of deposits and withdrawals
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| 46 U.S.C. § 53308 (2018) | ||||||
| §53308. Order and proportions of deposits and withdrawals | ||||||
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In this chapter— (1) if the net proceeds of a sale or the net indemnity for a loss is deposited in more than one deposit, the amount consisting of the gain shall be deemed to be deposited first; (2) amounts expended, obligated, or otherwise withdrawn shall be applied against the amounts deposited in the fund in the order of deposit; and (3) if a deposit consists in part of a gain not recognized under section 53306 of this title, any expenditure, obligation, or withdrawal applied against that deposit shall be deemed to be a gain in the proportion that the part of the deposit consisting of a gain bears to the total amount of the deposit. |
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(Pub. L. 109–304, §8(c), Oct. 6, 2006, 120 Stat. 1589.) |
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| United States Code, 2018 Edition, Title 46 - SHIPPING | ||||||
| Bills and Statutes | ||||||
| United States Code | ||||||
| Y 1.2/5: | ||||||
| Title 46 - SHIPPING Subtitle V - Merchant Marine Part C - Financial Assistance Programs CHAPTER 533 - CONSTRUCTION RESERVE FUNDS Sec. 53308 - Order and proportions of deposits and withdrawals |
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| section 53308 | ||||||
| 2018 | ||||||
| January 14, 2019 | ||||||
| Yes | ||||||
| standard | ||||||
| 54 Stat. 1107 120 Stat. 1589 |
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| Public Law 109-304 |
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