[USC02] 10 USC 8702: Acquisition and transfer of vessels and equipment
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*Public Laws 116-93 through 116-105 have been enacted but classifications have not yet been finalized. The currency ("laws in effect") date does not reflect acts for which classification has not been finalized.

10 USC 8702: Acquisition and transfer of vessels and equipment Text contains those laws in effect on January 28, 2020
From Title 10-ARMED FORCESSubtitle C-Navy and Marine CorpsPART IV-GENERAL ADMINISTRATIONCHAPTER 865-SALVAGE FACILITIES

§8702. Acquisition and transfer of vessels and equipment

(a) Authority.-The Secretary of the Navy may acquire or transfer for operation by private salvage companies such vessels and equipment as the Secretary considers necessary.

(b) Agreement on Use.-Before any salvage vessel or salvage gear is transferred by the Secretary to a private party, the private party must agree in writing with the Secretary that the vessel or gear will be used to support organized offshore salvage facilities for a period of as many years as the Secretary considers appropriate.

(c) Reference to Authority To Advance Funds for Immediate Salvage Operations.-For authority for the Secretary of the Navy to advance to private salvage companies such funds as the Secretary considers necessary to provide for the immediate financing of salvage operations, see section 2307(g)(2) of this title.

(Added Pub. L. 104–106, div. A, title X, §1015, Feb. 10, 1996, 110 Stat. 424 , §7362; renumbered §8702, Pub. L. 115–232, div. A, title VIII, §807(d)(3), Aug. 13, 2018, 132 Stat. 1836 .)

Amendments

2018-Pub. L. 115–232 renumbered section 7362 of this title as this section.

Effective Date of 2018 Amendment

Amendment by Pub. L. 115–232 effective Feb. 1, 2019, with provision for the coordination of amendments and special rule for certain redesignations, see section 800 of Pub. L. 115–232, set out as a note preceding section 3001 of this title.