46 USC 31324: Retention and examination of mortgages of vessels covered by preferred mortgages

46 USC 31324: Retention and examination of mortgages of vessels covered by preferred mortgages Text contains those laws in effect on January 4, 1995

From Title 46-SHIPPINGSubtitle III-Maritime LiabilityCHAPTER 313-COMMERCIAL INSTRUMENTS AND MARITIME LIENSSUBCHAPTER II-COMMERCIAL INSTRUMENTS

Jump To: Source Credit

§31324. Retention and examination of mortgages of vessels covered by preferred mortgages

(a) On request, the owner, master, or individual in charge of a vessel covered by a preferred mortgage shall permit a person to examine the mortgage if the person has business with the vessel that may give rise to a maritime lien or the sale, conveyance, mortgage, or assignment of a mortgage of the vessel.

(b) A mortgagor of a preferred mortgage covering a self-propelled vessel shall use diligence in keeping a certified copy of the mortgage on the vessel.

( Pub. L. 100–710, title I, §102(c), Nov. 23, 1988, 102 Stat. 4744 .)

Historical and Revision Notes
Revised section	Source section (U.S. Code)
31324	46:923

Section 31324(a) provides for examination of mortgages of a vessel that is covered by a preferred mortgage by persons that have business with the vessel that may give rise to a maritime lien or the sale, conveyance, mortgage, or assignment of the mortgage. This subsection makes no substantive change to law.

Section 31324(b) requires that a certified copy of the mortgage must be on board a self-propelled vessel. This subsection makes no substantive change to law.