46 U.S. Code § 56501 - Definition

§ 56501.
In this chapter, the term “essential vessel” means a vessel that is—
security for a mortgage indebtedness to the United States Government; or
constructed under this subtitle or required by a contract under this subtitle to be operated on a certain essential foreign trade route; and
necessary in the interests of commerce and national defense to be maintained in condition for prompt use.

Historical and Revision Notes



Source (U.S. Code)

Source (Statutes at Large)


46 App.:1242a(a).

June 29, 1940, ch. 442, subdiv. (a), 54 Stat. 684.


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