§185. Petition for limitation of liability; deposit of value of interest in court; transfer of interest to trustee

The vessel owner, within six months after a claimant shall have given to or filed with such owner written notice of claim, may petition a district court of the United States of competent jurisdiction for limitation of liability within the provisions of chapter 6 of title 48 of the Revised Statutes and the owner (a) shall deposit with the court, for the benefit of claimants, a sum equal to the amount or value of the interest of such owner in the vessel and freight, or approved security therefor, and in addition such sums, or approved security therefor, as the court may from time to time fix as necessary to carry out the provisions of section 183 of this Appendix, or (b) at his option shall transfer, for the benefit of claimants, to a trustee to be appointed by the court his interest in the vessel and freight, together with such sums, or approved security therefor, as the court may from time to time fix as necessary to carry out the provisions of section 183 of this Appendix. Upon compliance with the requirements of this section all claims and proceedings against the owner with respect to the matter in question shall cease.

(R.S. §4285; June 5, 1936, ch. 521, §3, 49 Stat. 1480 .)

References in Text

Chapter 6 of title 48 of the Revised Statutes, referred to in text, was in the original "this chapter, as amended", meaning chapter 6 of title 48 of the Revised Statutes, consisting of R.S. §§4252 to 4289. For complete classification of R.S. §§4252 to 4289 to the Code, see Tables.

Codification

R.S. §4285 derived from act Mar. 3, 1851, ch. 43, §4, 9 Stat. 635 .

Amendments

1936-Act June 5, 1936, substituted provisions of this section for former provisions which provided that it should be deemed a sufficient compliance on the part of an owner with the requirements of title 48 of the Revised Statutes relating to his liability for embezzlement, loss, or destruction of any property, goods, or merchandise, if he transferred his interest in such vessel and freight, for the benefit of claimants, to a trustee appointed by court, after which all claims against the owner should cease.

Cross References

Remedies reserved, see section 187 of this Appendix.

Vessels within application of this section, see section 188 of this Appendix.

Section Referred to in Other Sections

This section is referred to in sections 187, 188, 1308 of this Appendix; title 16 section 1443; title 33 section 2718; title 42 section 9607.