(a)(1) A mortgagor shall be fined under title 18, imprisoned for not more than 2 years, or both, if the mortgagor—
(A) with intent to defraud, does not disclose an obligation on a vessel as required by section 31323(a) of this title;
(B) with intent to defraud, incurs a contractual obligation in violation of section 31323(b) of this title; or
(C) with intent to hinder or defraud an existing or future creditor of the mortgagor or a lienor of the vessel, files a mortgage with the Secretary.
(2) A mortgagor is liable to the United States Government for a civil penalty of not more than $10,000 if the mortgagor—
(A) does not disclose an obligation on a vessel as required by section 31323(a) of this title;
(B) incurs a contractual obligation in violation of section 31323(b) of this title; or
(C) files with the Secretary a mortgage made not in good faith.
(b)(1) A person that knowingly violates section 31329 of this title shall be fined under title 18, imprisoned for not more than 3 years, or both.
(2) A person violating section 31329 of this title is liable to the Government for a civil penalty of not more than $25,000.
(3) A vessel involved in a violation under section 31329 of this title and its equipment may be seized by, and forfeited to, the Government.
(c) If a person not an individual violates this section, the president or chief executive of the person also is subject to any penalty provided under this section.
(Pub. L. 100–710, title I, §102(c), Nov. 23, 1988, 102 Stat. 4747; Pub. L. 104–324, title XI, §1113(b)(2), Oct. 19, 1996, 110 Stat. 3970; Pub. L. 111–281, title IX, §913(a)(1), (d), Oct. 15, 2010, 124 Stat. 3017.)
| Revised section | Source section (U.S. Code) |
|---|---|
| 31330(a) | 46:941(b) (1st sentence) |
| 31330(b) | New |
| 31330(c) | 46:941(b) (1st sentence) |
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Last modified: October 26, 2015