§53303. Persons eligible to establish funds

A construction reserve fund may be established by a citizen of the United States that-

(1) is operating a vessel in the foreign or domestic commerce of the United States or in the fisheries;

(2) owns, in whole or in part, a vessel being operated in the foreign or domestic commerce of the United States or in the fisheries;

(3) was operating a vessel in the foreign or domestic commerce of the United States or in the fisheries when it was bought or requisitioned by the United States Government;

(4) owned, in whole or in part, a vessel being operated in the foreign or domestic commerce of the United States or in the fisheries when it was bought or requisitioned by the Government; or

(5) had acquired or was having constructed a vessel to operate in the foreign or domestic commerce of the United States or in the fisheries when it was bought or requisitioned by the Government.

( Pub. L. 109–304, §8(c), Oct. 6, 2006, 120 Stat. 1587 .)

Historical and Revision Notes

Revised Section	Source (U.S. Code)	Source (Statutes at Large)
53303	46 App.:1161(b) (1st sentence words between 6th and 10th commas).	June 29, 1936, ch. 858, title V, §511(b) (1st sentence words between 6th and 10th commas), as added Oct. 10, 1940, ch. 849, 54 Stat. 1106 ; June 17, 1943, ch. 130, subdiv. (a), 57 Stat. 157 ; July 17, 1952, ch. 939, §9, 66 Stat. 762 .