Source: https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title46-section53710&num=0&edition=prelim
Timestamp: 2020-01-29 05:10:08
Document Index: 324527947

Matched Legal Cases: ['§ 53710', '§8', '§3507', '§3522', '§1104', '§1104', '§1104', '§46', '§14', '§4', '§2', '§4', '§1', '§1', '§1', '§2', '§31', '§3', '§12', '§1', '§1104', '§1104', '§4115', '§1356', '§3522', '§3507', '§3507', '§3522']

[USC02] 46 USC 53710: Contents of obligations
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46 USC 53710: Contents of obligations Text contains those laws in effect on January 28, 2020
(a) In General.-An obligation guaranteed under this chapter must-
(3) have a maturity date satisfactory to the Secretary or Administrator, but-
(B) if the vessel has been reconstructed or reconditioned, not more than the later of-
(4) provide, or a related agreement must provide, that if the vessel used as security for the guarantee is a delivered vessel, the vessel shall be-
(b) Provisions for Certain Passenger Vessels.-
(1) In general.-With the Administrator's approval, if the vessel used as security for the guarantee is a passenger vessel having the tonnage, speed, passenger accommodations, and other characteristics described in section 503 of the Merchant Marine Act, 1936, an obligation guaranteed under this chapter or a related agreement may provide that-
(2) Surrender of vessel.-
(A) In general.-On surrender, the vessel must be-
(B) Covering deficiencies by insurance.-To the extent covered by insurance, a deficiency related to a requirement in subparagraph (A) may be satisfied by assignment of the obligor's insurance claims to the Government.
(c) Other Provisions To Protect Security Interests.-An obligation guaranteed under this chapter and any related agreement must contain other provisions for the protection of the security interests of the Government (including acceleration, assumption, and subrogation provisions and the issuance of notes by the obligor to the Secretary or Administrator), liens and releases of liens, payment of taxes, and other matters that the Secretary or Administrator may prescribe.
( Pub. L. 109–304, §8(c), Oct. 6, 2006, 120 Stat. 1610 ; Pub. L. 109–163, div. C, title XXXV, §3507(a)(1)(D), (2)(C), Jan. 6, 2006, 119 Stat. 3555 ; Pub. L. 110–181, div. C, title XXXV, §3522(a)(5), (9)(A), (10)(B), (b), Jan. 28, 2008, 122 Stat. 598 .)
53710(a)(1) 46 App.:1274(b)(4). June 29, 1936, ch. 858, title XI, §1104A(b)(3)–(7), (h) [§1104A formerly §1104], as added June 23, 1938, ch. 600, §46, 52 Stat. 970 ; Aug. 4, 1939, ch. 417, §14, 53 Stat. 1187 ; Sept. 28, 1950, ch. 1093, §4, 64 Stat. 1078 ; Aug. 15, 1953, ch. 513, §2, 67 Stat. 626 ; Sept. 3, 1954, ch. 1265, §4, 68 Stat. 1269 ; Pub. L. 86–123, §§1(3), 2, July 31, 1959, 73 Stat. 269 , 271; Pub. L. 86–127, §1(3), (4), July 31, 1959, 73 Stat. 273 ; Pub. L. 86–518, §1, June 12, 1960, 74 Stat. 216 ; Pub. L. 86–685, §§2, 3, Sept. 2, 1960, 74 Stat. 733 ; Pub. L. 90–341, June 15, 1968, 82 Stat. 180 ; Pub. L. 91–469, §§31, 32, Oct. 21, 1970, 84 Stat. 1035 ; restated Pub. L. 92–507, §3, Oct. 19, 1972, 86 Stat. 911 , 914; Pub. L. 97–31, §12(136), Aug. 6, 1981, 95 Stat. 166 ; Pub. L. 98–595, §1(7), Oct. 30, 1984, 98 Stat. 3131 ; §1104 renumbered as §1104A, Pub. L. 101–380, title IV, §4115(f)(1), Aug. 18, 1990, 104 Stat. 521 ; Pub. L. 103–160, title XIII, §1356(3)(C), Nov. 30, 1993, 107 Stat. 1813 .
Section 503 of the Merchant Marine Act, 1936, referred to in subsec. (b)(1), is section 503 of act June 29, 1936, ch. 858, 49 Stat. 1985 , which is set out as a note under section 53101 of this title.
2008-Pub. L. 110–181, §3522(b), repealed Pub. L. 109–163, §3507(a)(1)(D), (2)(C). See 2006 Amendment note below.
2006-Pub. L. 109–163, §3507(a)(1)(D), (2)(C), which directed the amendment of section 1274(b)(3)–(7), (h) of the former Appendix to this title from which this section was derived, was repealed by Pub. L. 110–181, §3522(b). See 2008 Amendment notes for subsecs. (a), (b), and (c) and Historical and Revision notes above.