(a) In General.— As soon as practicable, the Secretary of Transportation shall determine and pay just compensation for a vessel requisitioned under this chapter.
(b) Factors Not Affecting Value.— The value of a vessel may not be considered enhanced by the circumstances requiring its requisition. Consequential damages arising from the requisition may not be paid.
(c) Effect of Construction-Differential Subsidy.—
(1) If paid.— If a construction-differential subsidy has been paid for the vessel, the value of the vessel at the time of requisition shall be determined under section 802 of the Merchant Marine Act, 1936.
(2) If not paid.— If a construction-differential subsidy has not been paid for the vessel, the value of any national defense features previously paid for by the United States Government shall be excluded.
(d) Loss or Damage During Charter.— If a vessel is lost or damaged by a risk assumed by the Government under the charter, but a valuation for the vessel or a means of compensation has not been agreed to, the Secretary shall pay just compensation for the loss or damage, to the extent the person is not reimbursed through insurance.
46 App.:1242(a) (3d sentence words before 2d comma), (d) (1st par. words before 2d comma).
June 29, 1936, ch. 858, title IX, § 902(a) (3d, last sentences), (b), (d) (1st par. words before 2d comma), 49 Stat. 2015, 2016; Aug. 7, 1939, ch. 555, § 3, 53 Stat. 1255; Aug. 3, 1956, ch. 929, § 3, 70 Stat. 985; Pub. L. 97–31, § 12(131), Aug. 6, 1981, 95 Stat. 165.
46 App.:1242(a) (3d sentence words after 2d comma, last sentence).
46 App.:1242(c) (last sentence).
References in Text
Section 802 of the Merchant Marine Act, 1936, referred to in subsec. (c)(1), is section 802 of act June 29, 1936, ch. 858, 49 Stat. 1985, which is set out as a note under section
53101 of this title.
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 Tuesday, August 13, 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.
Description of Change
Statutes at Large
LII has no control over and does not endorse any external Internet site that contains links to or references LII.