46 CFR 356.9 - Tiered ownership structures.

§ 356.9 Tiered ownership structures.

Non-Citizens may not own or control, either directly through the first tier of ownership or in the aggregate through an interest in other entities at various tiers, more than 25% of the interest in an entity which owns a Fishing Industry Vessel. The prohibition against Non-Citizens owning or controlling more than 25%, in the aggregate, of the interest in an entity that owns a Fishing Industry Vessel means, for example, that:

(a) Non-Citizens that own or control a 25% stake in the ownership entity of a Fishing Industry Vessel at the first tier may not have any interest whatsoever in any entity that is being relied upon to establish the required 75% U.S. Citizen ownership; and

(b) Non-Citizens that own or control less than a 25% stake at the first tier may participate in the ownership and control of other entities that are being relied upon to establish the required 75% U.S. Citizen ownership and control at the first tier. However, the total ownership and control by Non-Citizens of the entity owning a Fishing Industry Vessel may not exceed 25% in the aggregate as computed by MARAD.

This is a list of United States Code sections, Statutes at Large, Public Laws, and Presidential Documents, which provide rulemaking authority for this CFR Part.

This list is taken from the Parallel Table of Authorities and Rules provided by GPO [Government Printing Office].

It is not guaranteed to be accurate or up-to-date, though we do refresh the database weekly. More limitations on accuracy are described at the GPO site.

United States Code
Statutes at Large

Title 46 published on 09-May-2017 04:27

The following are ALL rules, proposed rules, and notices (chronologically) published in the Federal Register relating to 46 CFR Part 356 after this date.

  • 2017-04-24; vol. 82 # 77 - Monday, April 24, 2017
    1. 82 FR 18871 - Annual Civil Monetary Penalties Adjustment
      GPO FDSys XML | Text
      DEPARTMENT OF TRANSPORTATION, Maritime Administration
      Final rule.
      This rule is effective May 4, 2017.
      46 CFR Parts 221, 307, 340, and 356