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U.S. Code, Title 46, Shipping, Appendix
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General SummaryThe U.S. Code is a consolidation and codification by subject matter of the general and permanent laws of the United States. While every effort has been made to ensure that this reproduction of the Code is accurate, those using it for legal purposes should verify their results against the printed version of the Code available through the Government Printing Office.
§ 869. Creation of Fund for Insurance of Interests of United States
The Secretary of Transportation may create out of insurance premiums, and revenue from operations and sales, and maintain and administer separate insurance funds which he may use to insure in whole or in part against all hazards commonly covered by insurance policies in such cases, any legal or equitable interest of the United States (1) in any vessel constructed or in process of construction; and (2) in any plants or property in the possession or under the authority of the Secretary of Transportation. The United States shall be held to have such an interest in any vessel toward the construction, reconditioning, remodeling, improving, or equipping of which a loan has been made under the authority of this Act, in any vessel upon which he holds a mortgage or lien of any character, or in any vessel which is obligated by contract with the owner to perform any service in behalf of the United States, to the extent of the Government’s interest therein.
(June 5, 1920, ch. 250, § 10, 41 Stat. 992; May 22, 1928, ch. 675, § 501, 45 Stat. 697; Ex. Ord. No. 6166, § 12, eff. June 10, 1933; June 29, 1936, ch. 858, title II, § 204, title IX, § 904, 49 Stat. 1987, 2016; Pub. L. 97–31, § 12(42), Aug. 6, 1981, 95 Stat. 156.)
References in Text
This Act, referred to in text, means act June 5, 1920, ch. 250, 41 Stat. 988, as amended, known as the Merchant Marine Act, 1920, which (except for sections repealed or reenacted in Title 46, Shipping) is classified principally to this chapter. For complete classification of this Act to the Code, see section 889 of this Appendix and Tables.
1981—Pub. L. 97–31 substituted "Secretary of Transportation" for "Commission" in two places and "he" for "it" in two places. For prior transfers of functions, see Transfer of Functions note below.
1928—Act May 22, 1928, inserted sentence relating to extent of interest of United States, among other changes.
Transfer of Functions
"Commission", meaning United States Maritime Commission, substituted in text for "board", meaning United States Shipping Board. For dissolution of Board and transfer of functions to United States Maritime Commission, see Ex. Ord. No. 6166 and act June 29, 1936. Ex. Ord. No. 6166 is set out as a note under section 901 of Title 5, Government Organization and Employees. For subsequent transfers of functions, see Reorg. Plan No. 6 of 1949, Reorg. Plan No. 21 of 1950, and Reorg. Plan No. 7 of 1961, set out under section 1111 of this Appendix.
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Chicago: "U.S. Congress, Office of the Law Revision Counsel", "§ 869. Creation of Fund for Insurance of Interests of United States," U.S. Code, Title 46, Shipping, Appendix in U.S. Code, Title 46, Shipping, Appendix (Washington, D.C.: Government Printing Office, 2002), Original Sources, accessed December 21, 2024, http://originalsources.com/Document.aspx?DocID=L3A3VJELMRHS3IM.
MLA: "U.S. Congress, Office of the Law Revision Counsel". "§ 869. Creation of Fund for Insurance of Interests of United States." U.S. Code, Title 46, Shipping, Appendix, in U.S. Code, Title 46, Shipping, Appendix, Washington, D.C., Government Printing Office, 2002, Original Sources. 21 Dec. 2024. http://originalsources.com/Document.aspx?DocID=L3A3VJELMRHS3IM.
Harvard: "U.S. Congress, Office of the Law Revision Counsel", '§ 869. Creation of Fund for Insurance of Interests of United States' in U.S. Code, Title 46, Shipping, Appendix. cited in 2002, U.S. Code, Title 46, Shipping, Appendix, Government Printing Office, Washington, D.C.. Original Sources, retrieved 21 December 2024, from http://originalsources.com/Document.aspx?DocID=L3A3VJELMRHS3IM.
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