2018 US Code
Title 46 - Shipping
Subtitle V - Merchant Marine
Part C - Financial Assistance Programs
Chapter 539 - War Risk Insurance
Sec. 53902 - Authority to provide insurance
| 46 U.S.C. § 53902 (2018) | ||||||
| §53902. Authority to provide insurance | ||||||
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(a) In General.—With the approval of the President, and after such consultation with interested agencies of United States Government as the President may require, the Secretary of Transportation may provide insurance and reinsurance against loss or damage from war risks as provided by this chapter whenever it appears to the Secretary that insurance adequate for the needs of the waterborne commerce of the United States cannot be obtained on reasonable terms and conditions from companies authorized to do insurance business in a State of the United States. (b) Consideration of Risk.—Insurance or reinsurance under this chapter shall be based, insofar as practicable, on consideration of the risk involved. (c) Availability of Vessel During War or National Emergency.—Insurance or reinsurance for a vessel may be provided under this chapter only on the condition that the vessel will be available to the Government in time of war or national emergency. |
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(Pub. L. 109–304, §8(c), Oct. 6, 2006, 120 Stat. 1627.) |
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| United States Code, 2018 Edition, Title 46 - SHIPPING | ||||||
| Bills and Statutes | ||||||
| United States Code | ||||||
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| Title 46 - SHIPPING Subtitle V - Merchant Marine Part C - Financial Assistance Programs CHAPTER 539 - WAR RISK INSURANCE Sec. 53902 - Authority to provide insurance |
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| section 53902 | ||||||
| 2018 | ||||||
| January 14, 2019 | ||||||
| Yes | ||||||
| standard | ||||||
| 64 Stat. 773 103 Stat. 694 120 Stat. 1627 |
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| Public Law 101-115, Public Law 109-304 |
