46 CFR 68.29 - Citizenship requirements for limited coastwise endorsement.
(a) Notwithstanding the citizenship requirements set out in part 67 of this chapter, a Certificate of Documentation with a coastwise endorsement for the limited purposes provided in § 68.33 may be issued to a vessel owned by—
(1) A not-for-profit oil spill response cooperative if the vessel meets the requirements of paragraph (b) of this section; or
(2) A member or members of a not-for-profit oil spill response cooperative if the vessel meets the requirements of paragraphs (b) and (c) of this section.
(1) An individual who is a native-born, naturalized or derivative citizen of the United States or otherwise qualifies as a United States citizen.
(i) The president and, if the president is not the chief executive officer, the chief executive officer, by whatever title, is a citizen;
(iii) No more of the directors are non-citizens than a minority of the number necessary to constitute a quorum.
(3) A partnership where all the general partners are citizens and at least 50 percent of the equity interest is owned by citizens.
(5) A trust where all the trustees and all the beneficiaries with an enforceable interest in the trust are citizens.
(c) The vessel must be owned by a member or members of a not-for-profit oil spill response cooperative who dedicate the vessel to the use of a not-for-profit oil spill response cooperative.
(d) A vessel which meets the criteria of this section is considered to be owned exclusively by citizens of the United States for the purposes of subsequent transfer and documentation under part 67 of this chapter.
[CGD 90-055, 57 FR 7642, Mar. 3, 1992. Redesignated and amended by USCG-2005-20258, 71 FR 61418, Oct. 18, 2006]
Title 46 published on 2014-10-01
no entries appear in the Federal Register after this date.