46 U.S. Code § 56501 - Definition

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In this chapter, the term “essential vessel” means a vessel that is—
(1)
(A) security for a mortgage indebtedness to the United States Government; or
(B) constructed under this subtitle or required by a contract under this subtitle to be operated on a certain essential foreign trade route; and
(2) necessary in the interests of commerce and national defense to be maintained in condition for prompt use.

Source

(Pub. L. 109–304, § 8(c),Oct. 6, 2006, 120 Stat. 1656.)

Historical and Revision Notes
Revised Section Source (U.S. Code) Source (Statutes at Large)
56501
46 App.:1242a(a).
June 29, 1940, ch. 442, subdiv. (a), 54 Stat. 684.

 

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