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NOTES:


Source

(June 29, 1936, ch. 858, title VI, § 611, as added June 23, 1938, ch. 600, § 30, 52 Stat. 961; amended Pub. L. 85–791, § 17, Aug. 28, 1958, 72 Stat. 947; Pub. L. 86–518, § 4, June 12, 1960, 74 Stat. 216; Pub. L. 97–31, § 12(100), Aug. 6, 1981, 95 Stat. 162.)

Amendments

1981—Subsec. (a). Pub. L. 97–31, § 12(100)(A), (B), substituted “Secretary of Transportation” for “Commission” in three places and “he” for “it”. For prior transfers of functions of the Commission, meaning the United States Maritime Commission, see Transfer of Functions note below.
Subsec. (b). Pub. L. 97–31, § 12(100)(A), (C), substituted “Secretary of Transportation” for “Commission” in three places and “the Secretary of Transportation or any other officer designated by him for that purpose” for “any member of the Commission, or any officer thereof designated by the Commission for that purpose”. For prior transfers of functions of the Commission, meaning the United States Maritime Commission, see Transfer of Functions note below.
Subsec. (c). Pub. L. 97–31, § 12(100)(A), substituted “Secretary of Transportation” for “Commission”. For prior transfers of functions of the Commission, meaning the United States Maritime Commission, see Transfer of Functions note below.
1960—Subsec. (c). Pub. L. 86–518 substituted “4 per centum” for “5 per centum”.
1958—Subsec. (b). Pub. L. 85–791, in second sentence, substituted “transmitted by the clerk of the court to” for “served upon”, struck out “upon” before “any officer”, substituted “file in the court” for “certify and file in the court a transcript of”, and inserted “as provided in section 2112 of title 28”, and which, in third sentence, substituted “petition” for “transcript”.

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.

Rate of Depreciation for Vessels Delivered by Shipbuilder On or After January 1, 1946, and Before January 1, 1960

For provisions relating to computation of depreciation with respect to vessels delivered by the shipbuilder on or after Jan. 1, 1946, and before Jan. 1, 1960, see section 8(b) of Pub. L. 86–518, set out as a note under section 1125 of this Appendix.

Revision of Contracts, Commitments To Insure Mortgages, Mortgages, and Mortgage Insurance Contracts Entered Into Prior to June 12, 1960

For provisions authorizing revision, see section 8(c) of Pub. L. 86–518, 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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