46 USC 56306: Use and transfer of vessels

46 USC 56306: Use and transfer of vessels Text contains those laws in effect on August 17, 2024

From Title 46-SHIPPINGSubtitle V-Merchant MarinePart E-Control of Merchant Marine CapabilitiesCHAPTER 563-EMERGENCY ACQUISITION OF VESSELS

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§56306. Use and transfer of vessels

(a) In General.-The Secretary of Transportation may repair, recondition, reconstruct, operate, or charter for operation, a vessel acquired under this chapter.

(b) Transfer to Other Agencies.-The Secretary may transfer the possession or control of a vessel acquired under this chapter to another department or agency of the United States Government on terms and conditions approved by the President. The department or agency shall promptly reimburse the Secretary for expenditures for just compensation, purchase price, charter hire, repairs, reconditioning, or reconstruction.

( 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)
56306	46 App.:1242(e).	June 29, 1936, ch. 858, title IX, §902(e); as added Aug. 7, 1939, ch. 555, §3, 53 Stat. 1256 ; Pub. L. 97–31, §12(131), Aug. 6, 1981, 95 Stat. 165 .

In this section, the word "vessel" is substituted for "property" for consistency in the chapter.

In subsection (b), the words "Such reimbursements shall be deposited in the construction fund established by section 1116 of this Appendix" are omitted as impliedly repealed by 46 App. U.S.C. 1119 as amended in 1967.