The owner of a vessel may hypothecate it or its freightage, upon bottomry, for any lawful purpose, and at any time and place.
Cal. Harb. & Nav. Code § 451
Bottomry
Enacted by Stats. 1937, Ch. 368.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.