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NOTES:


Source

(June 29, 1936, ch. 858, title V, § 506, 49 Stat. 1999; June 23, 1938, ch. 600, § 18, 52 Stat. 958; Mar. 18, 1959, Pub. L. 86–3, § 18(b)(1), 73 Stat. 12; Pub. L. 86–518, § 3, June 12, 1960, 74 Stat. 216; Pub. L. 97–31, § 12(87), Aug. 6, 1981, 95 Stat. 161.)

Amendments

1981—Pub. L. 97–31 substituted “Secretary of Transportation” for “Commission” the first time it appeared and “Secretary” for “Commission” the next four times it appeared. For prior transfers of functions of the Commission, meaning the United States Maritime Commission, see Transfer of Functions note below.
1960—Pub. L. 86–518 substituted “one-twenty-fifth” for “one-twentieth”.
1959—Pub. L. 86–3 included stops at the State of Hawaii for vessels operated on voyages in foreign trade.
1938—Act June 23, 1938, made changes in phraseology and substituted “construction-differential subsidy” for “construction subsidy”.

Effective Date of 1960 Amendment

Amendment by Pub. L. 86–518 applicable only to vessels delivered by the shipbuilder on or after Jan. 1, 1946, and with respect to such vessels shall become effective on Jan. 1, 1960, and with respect to vessels delivered by the shipbuilder before Jan. 1, 1946, the provisions of this chapter existing immediately before June 12, 1960, shall continue in effect, see section 8(a) of Pub. L. 86–518, set out as a note under section 1125 of this Appendix.

Transfer of Functions

For transfer of functions of United States Maritime Commission, 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.

Revision of Contracts, Commitments To Insure Mortgages, Mortgages, and Mortgage Insurance Contracts Entered Into Prior to June 12, 1960, Amendment of Contracts Dealing With Vessels Having Extended Life

For provisions authorizing revision and amendment of certain contracts, see section 8(c) of Pub. L. 86–518, as amended, set out as a note under section 1125 of this Appendix.

Commercial Expectancy or Period of Depreciation of Tankers and Other Liquid Bulk Carriers

Nothing in any amendment made by Pub. L. 86–518 to operate or be interpreted to change from 20 to 25 years the provisions of this chapter relating to the commercial expectancy or period of depreciation of any tanker or other liquid bulk carrier, see section 9 of Pub. L. 86–518, set out as a note under section 1125 of this Appendix.

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