46 U.S. Code § 53903 - Insurable interests
(a) In General.— The Secretary of Transportation may provide insurance and reinsurance under this chapter for—
(2) a foreign vessel—
(A) shipped or to be shipped on a vessel insurable under this section, including by express or registered mail;
(C) imported to or exported from the United States, or sold or purchased by a citizen or resident of the United States, under a contract of sale or purchase the terms of which provide that the risk of loss by war risks or the obligation to provide insurance against war risks is on a citizen or resident of the United States; or
(4) disbursements, including advances to masters and general average disbursements, and freight and passage money of a vessel insurable under this section;
(6) loss of life, injury, or detention by an enemy of the United States after capture, with respect to an individual on a vessel insurable under this section; and
(b) Considerations for Foreign Vessels.— In determining whether to provide insurance or reinsurance for a foreign vessel, the Secretary shall consider the characteristics, employment, and general management of the vessel by the owner or charterer.
Source(Pub. L. 109–304, § 8(c),Oct. 6, 2006, 120 Stat. 1627.)
|Revised Section||Source (U.S. Code)||Source (Statutes at Large)|
|46 App.:1283(a) (1st sentence), (b) (1st sentence), (c)–(f).|
|June 29, 1936, ch. 858, title XII, § 1203(a) (1st, 2d sentences), (b) (1st sentence), (c)–(f), as added Sept. 7, 1950, ch. 906, 64 Stat. 773, 774; Pub. L. 94–523, §§ 1–3, Oct. 17, 1976, 90 Stat. 2474.|
|46 App.:1283(a) (2d sentence).|
|June 29, 1936, ch. 858, title XII, § 1204, as added Sept. 7, 1950, ch. 906, 64 Stat. 774.|
In subsections (a)(2) and (b), the words “foreign vessel” are substituted for “foreign-flag vessels” because of the definition of “foreign vessel” in chapter 1 of the revised title.
In paragraph (3), references to the territories and possessions of the United States are omitted as unnecessary because of the definition of “United States” in chapter 1 of the revised title.
In paragraph (5), the words “individual on a vessel insurable under this section” are substituted for “masters, officers, and crews of such vessels, and of other persons transported on such vessels” to eliminate unnecessary words.
In paragraph (6), the words “individual on a vessel insurable under this section” are substituted for “Masters, officers, members of the crews of such vessels and other persons employed or transported thereon” to eliminate unnecessary words.
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