46 CFR 68.29 - Citizenship requirements for limited coastwise endorsement.
(a) Notwithstanding the citizenship requirements set out in part 67 of this chapter, a Certificate of Documentation with a coastwise endorsement for the limited purposes provided in § 68.33 may be issued to a vessel owned by -
(b) The vessel must be at least 50 percent owned by one or more of the following entities:
(2) A corporation incorporated under the laws of the United States or of a State where -
(i) The president and, if the president is not the chief executive officer, the chief executive officer, by whatever title, is a citizen;
(ii) The chairman of the board of directors is a citizen; and
(iii) No more of the directors are non-citizens than a minority of the number necessary to constitute a quorum.
(4) An association or joint venture where all the members are citizens.
(5) A trust where all the trustees and all the beneficiaries with an enforceable interest in the trust are citizens.
(d) A vessel which meets the criteria of this section is considered to be owned exclusively by citizens of the United States for the purposes of subsequent transfer and documentation under part 67 of this chapter.