46 USC 57102: Disposition of vessels not worth preserving

46 USC 57102: Disposition of vessels not worth preserving Text contains those laws in effect on January 8, 2008

From Title 46-SHIPPINGSubtitle V-Merchant MarinePart F-Government-Owned Merchant VesselsCHAPTER 571-GENERAL AUTHORITY

§57102. Disposition of vessels not worth preserving

(a) In General.-If the Secretary of Transportation determines that a vessel owned by the Maritime Administration is of insufficient value for commercial or military operation to warrant its further preservation, the Secretary may scrap the vessel or sell the vessel for cash.

(b) Selling Procedure.-The sale of a vessel under subsection (a) shall be made on the basis of competitive sealed bids, after an appraisal and due advertisement. The purchaser does not have to be a citizen of the United States. The purchaser shall provide a surety bond, with a surety approved by the Secretary, to ensure that the vessel will not be operated in the foreign trade of the United States at any time within 10 years after the sale, in competition with a vessel owned by a citizen of the United States and documented under the laws of the United States.

( Pub. L. 109–304, §8(c), Oct. 6, 2006, 120 Stat. 1658 .)

Historical and Revision Notes
Revised Section	Source (U.S. Code)	Source (Statutes at Large)
57102	46 App.:1158(a).	June 29, 1936, ch. 858, title V, §508(a), 49 Stat. 2000 ; Pub. L. 97–31, §12(89), Aug. 6, 1981, 95 Stat. 161 ; Pub. L. 108–136, title XXXV, §3512(1), Nov. 24, 2003, 117 Stat. 1789 .

In subsection (a), the words "vessel owned by the Maritime Administration" are substituted for "vessel transferred to the Maritime Administration of the Department of Transportation by section 1112 of this Appendix, or hereafter acquired" to eliminate unnecessary words.

In subsection (b), the words "The sale of a vessel under section (a) shall be made on the basis of competitive sealed bids, after an appraisal and due advertisement. The purchaser does not have to be a citizen of the United States." are substituted for "after appraisement and due advertisement, and upon competitive sealed bids, either to citizens of the United States or to aliens" for clarity. The words "provide a surety bond, with a surety approved by the Secretary, to ensure that" are substituted for "enter into an undertaking with sureties approved by the Secretary of Transportation that" for clarity.