[USC05] 10 USC 8702: Acquisition and transfer of vessels and equipment
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TEXT OF PART V OF SUBTITLE A (3001 ET SEQ.), EFFECTIVE JANUARY 1, 2022, CURRENTLY SET OUT AS A PREVIEW

10 USC 8702: Acquisition and transfer of vessels and equipment Text contains those laws in effect on December 31, 2020 Pending Updates: Pub L. 116-283 (1/01/2021) [View Details]
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 ; amended Pub. L. 116–283, div. A, title XVIII, §1876(c), Jan. 1, 2021, 134 Stat. 4291 .)

Amendment of Subsection (c)

Pub. L. 116–283, div. A, title XVIII, §§1801(d), 1876(c), Jan. 1, 2021, 134 Stat. 4151 , 4282, provided that, effective Jan. 1, 2022, with additional provisions for delayed implementation and applicability of existing law, subsection (c) of this section is amended-

(1) by striking the first two words of the subsection heading; and

(2) by striking the text of that subsection and inserting the text of paragraph (2) of section 2307(g) of this title, amended by striking "this paragraph" in the second sentence and inserting "this subsection".

See 2021 Amendment notes below.

Amendments

2021-Subsec. (c). Pub. L. 116–283, §1876(c)(2), substituted "The Secretary of the Navy may advance to private salvage companies such funds as the Secretary considers necessary to provide for the immediate financing of salvage operations. Advances under this subsection shall be made on terms that the Secretary considers adequate for the protection of the United States." for "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."

Pub. L. 116–283, §1876(c)(1), struck out "Reference to " before "Authority" in heading.

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.