(Sept. 7, 1916, ch. 451, § 37, as added July 15, 1918, ch. 152, § 4, 40 Stat. 901; amended Ex. Ord. No. 6166, § 12, eff. June 10, 1933; June 29, 1936, ch. 858, title II, § 204, title IX, § 904, 49 Stat. 1987, 2016; Pub. L. 89–346, § 2, Nov. 8, 1965, 79 Stat. 1306; Pub. L. 97–31, § 12(30), Aug. 6, 1981, 95 Stat. 156.)

References in Text

Subsection (e) of this section, referred to in penultimate par., was redesignated subsection (f) of this section by Pub. L. 89–346 without amendment to said paragraph to reflect such redesignation.


1981—Pub. L. 97–31 substituted “Secretary of Transportation” for “Commission” in introductory par., and for “Secretary of Commerce” in five places in subsec. (c). For prior transfers of functions, see Transfer of Functions note below.
1965—Subsecs. (c) to (f). Pub. L. 89–346, § 2(a), added subsec. (c) and redesignated former subsecs. (c) to (e) as (d) to (f), respectively.
Pub. L. 89–346, § 2(b), inserted provisions voiding the issuance, transfer or assignment of bonds, notes, or other evidences of indebtedness which are secured by a mortgage of a vessel to a trustee or by an assignment to a trustee of the owner’s right, title, or interest in a vessel under construction, or by a mortgage to a trustee on a shipyard, drydock or ship-building or ship-repairing plant or facilities, if such issuance, transfer or assignment is made in violation of subsec. (c) of this section.


For provisional repeal, see note set out preceding section 801 of this Appendix.

Transfer of Functions

In introductory par., “Commission”, meaning United States Maritime Commission, substituted for “board”, meaning United States Shipping Board. For dissolution of Board and transfer of functions to United States Maritime Commission, see Ex. Ord. No. 6166 and act June 29, 1936. Ex. Ord. No. 6166 is set out as a note under section 901 of Title 5, Government Organization and Employees. For subsequent transfers of functions, see Reorg. Plan No. 6 of 1949 and Reorg. Plan No. 21 of 1950, set out under section 1111 of this Appendix.

National Emergency, 1950

For Presidential Proclamation of the existence of a national emergency, see Proc. No. 2914, eff. Dec. 16, 1950, 15 F.R. 9029, 64 Stat. 454, set out as a note preceding section 1 of Title 50, Appendix, War and National Defense.

Termination of War and Emergencies

Joint Res. July 25, 1947, ch. 327, § 3, 61 Stat. 451, provided that in the interpretation of this section, the date July 25, 1947, shall be deemed to be the date of termination of any state of war theretofore declared by Congress and of the national emergencies proclaimed by the President on Sept. 8, 1939, and May 27, 1941.