46 USC 56501 - Definition

In this chapter, the term "essential vessel" means a vessel that is—

(1)(A) security for a mortgage indebtedness to the United States Government; or

(B) constructed under this subtitle or required by a contract under this subtitle to be operated on a certain essential foreign trade route; and

(2) necessary in the interests of commerce and national defense to be maintained in condition for prompt use.

(Pub. L. 109–304, §8(c), Oct. 6, 2006, 120 Stat. 1656.)

Historical and Revision Notes
Revised

Section

Source (U.S. Code)Source (Statutes at Large)
56501 46 App.:1242a(a). June 29, 1940, ch. 442, subdiv. (a), 54 Stat. 684.

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Last modified: October 26, 2015