46 CFR 289.3 - Provision in subsidy agreements and mortgages.

§ 289.3 Provision in subsidy agreements and mortgages.
(a) All construction-differential subsidy agreements and mortgages relative to vessels covered in § 289.2(a) shall provide, wherever possible, that the Maritime Administrator may, in his discretion, require the owner to insure, with commercial underwriters, the interest of the United States.
(b) All future construction-differential subsidy agreements and future operating subsidy agreements shall require that owners insure vessels covered in § 289.2 (a) and (d) in amounts acceptable to the Maritime Administration.

Title 46 published on 2014-10-01

no entries appear in the Federal Register after this date.

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