46 U.S. Code Section 56501 - Definition

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.

Annotations
Citation
46 U.S.C. § 56501 (2021)
Miscellaneous
Historical and Revision Notes
Historical and Revision Notes
Revised

Section

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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