31330(a) provides for criminal penalties for not disclosing obligations, incurring contractual obligations in violation of section
31323(b), and filing a mortgage made not in good faith. This subsection makes a substantive change to law by adding civil penalties and by making it a crime to record with the Secretary of Transportation a mortgage made not in good faith with the intent to hinder an existing or future creditor of the mortgagor or a lienor of the vessel. This is done since the affidavit of good faith has been eliminated from the elements of a preferred mortgage.
31330(b) adds criminal and civil penalties for violating the sale and trust requirements under sections
31329. It also makes a vessel and its equipment involved in those violations subject to seizure by the Government.
31330(c) makes the president or chief executive officer of a corporation or association liable as a mortgagor for the penalties under this section.
house floor statement
Subsection (a) of this section adds criminal and civil penalties for a preferred mortgagor’s failure to carry out certain requirements under chapter
313 of title
46 (as enacted by this Act).
2010—Subsec. (a)(1)(B). Pub. L. 111–281, § 913(d)(1)(A), inserted “or” after semicolon.
Subsec. (a)(1)(C). Pub. L. 111–281, § 913(d)(1)(B), substituted “Secretary.” for “Secretary; or”.
Pub. L. 111–281, § 913(a)(1), struck out “of Transportation” after “Secretary”.
Subsec. (a)(1)(D). Pub. L. 111–281, § 913(d)(1)(C), struck out subpar. (D) which read as follows: “with intent to defraud, does not comply with section
31321(h) of this title.”
Subsec. (a)(2)(B) to (D). Pub. L. 111–281, § 913(d)(2), inserted “or” at end of subpar. (B), substituted “faith.” for “faith; or” at end of subpar. (C), and struck out subpar. (D) which read as follows: “does not comply with section
31321(h) of this title.”
1996—Subsec. (b). Pub. L. 104–324struck out “31328 or” before “31329” in pars. (1) to (3).
The table below lists the classification updates, since Jan. 3, 2012, for this section. Updates to a broader range of sections may be found at the update page for containing chapter, title, etc.
The most recent Classification Table update that we have noticed was Wednesday, February 6, 2013
An empty table indicates that we see no relevant changes listed in the classification tables. If you suspect that our system may be missing something, please double-check with the Office of the Law Revision Counsel.