Shipping - 46 USC Appendix Section 185

01/19/04

Sec. 185. Petition for limitation of liability; deposit of value of
interest in court; transfer of interest to trustee

The vessel owner, within six months after a claimant shall have
given to or filed with such owner written notice of claim, may
petition a district court of the United States of competent
jurisdiction for limitation of liability within the provisions of
chapter 6 of title 48 of the Revised Statutes and the owner (a)
shall deposit with the court, for the benefit of claimants, a sum
equal to the amount or value of the interest of such owner in the
vessel and freight, or approved security therefor, and in addition
such sums, or approved security therefor, as the court may from
time to time fix as necessary to carry out the provisions of
section 183 of this Appendix, or (b) at his option shall transfer,
for the benefit of claimants, to a trustee to be appointed by the
court his interest in the vessel and freight, together with such
sums, or approved security therefor, as the court may from time to
time fix as necessary to carry out the provisions of section 183 of
this Appendix. Upon compliance with the requirements of this
section all claims and proceedings against the owner with respect
to the matter in question shall cease.

AMENDMENTS
1936 - Act June 5, 1936, substituted provisions of this section
for former provisions which provided that it should be deemed a
sufficient compliance on the part of an owner with the requirements
of title 48 of the Revised Statutes relating to his liability for
embezzlement, loss, or destruction of any property, goods, or
merchandise, if he transferred his interest in such vessel and
freight, for the benefit of claimants, to a trustee appointed by
court, after which all claims against the owner should cease.

Last modified: April 20, 2006