In this chapter, the term "essential vessel" means a vessel that is—
(1)(A) security for a mortgage indebtedness to the United States Government; or
(B) constructed under this subtitle or required by a contract under this subtitle to be operated on a certain essential foreign trade route; and
(2) necessary in the interests of commerce and national defense to be maintained in condition for prompt use.
|Source (U.S. Code)||Source (Statutes at Large)|
|56501||46 App.:1242a(a).||June 29, 1940, ch. 442, subdiv. (a), 54 Stat. 684.|
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