Section 57304 · Eligible acquisition dates

Amended 1 time on record

At the option of the owner, the acquisition of an obsolete vessel under this chapter shall occur—

(1) when the owner contracts for the construction or purchase of a new vessel; or

(2) within 5 days of the actual date of delivery of the new vessel to the owner.

Editorial notes U.S. Code · Office of the Law Revision Counsel

SectionSource (U.S. Code)Source (Statutes at Large) 57304 46 App.:1160(b) (2d sentence). June 29, 1936, ch. 858, title V, §510(b) (2d sentence), as added Aug. 4, 1939, ch. 417, §7, 53 Stat. 1184; Pub. L. 87–401, subdiv. (1), Oct. 5, 1961, 75 Stat. 833; Pub. L. 91–469, §35(a), Oct. 21, 1970, 84 Stat. 1035; Pub. L. 97–31, §12(91), Aug. 6, 1981, 95 Stat. 161. The words “At the option of the owner” are substituted for “if the owner so requests” for clarity.