§31308. Secretary of Commerce or Transportation as mortgagee

When the Secretary of Commerce or Transportation is a mortgagee under this chapter, the Secretary may foreclose on a lien arising from a right established under a mortgage under title XI of the Merchant Marine Act, 1936 (46 App. U.S.C. 1271 et seq.), subject to section 362(b) of title 11.

( Pub. L. 100–710, title I, §102(c), Nov. 23, 1988, 102 Stat. 4741 ; Pub. L. 101–595, title VI, §603(13), Nov. 16, 1990, 104 Stat. 2993 .)

Section 31308 allows the Secretary of Commerce or Transportation to foreclose on a lien arising from a right established under a mortgage under title XI of the Merchant Marine Act, 1936. This section makes no substantive change to law.

References in Text

The Merchant Marine Act, 1936, referred to in text, is act June 29, 1936, ch. 858, 49 Stat. 1985 , as amended. Title XI of the Act is classified generally to subchapter XI (§1271 et seq.) of chapter 27 of the Appendix to this title. For complete classification of this Act to the Code, see section 1245 of the Appendix to this title and Tables.

Amendments

1990-Pub. L. 101–595 substituted "(46 App. U.S.C. 1271 et seq.)" for "(46 App. U.S.C. 1241 et seq.)".