Statute · United States Code
46 U.S.C. § 12107 — Wrecked vessels
46 U.S.C. § 12107
- Type
- Statute
- Source
- United States Code
- Jurisdiction
- Federal
- Date
- 2025-01-06
- Topic
- bankruptcy
(a) Requirements.—A vessel is a wrecked vessel under this chapter if it— (1) was wrecked on a coast of the United States or adjacent waters; and (2) has undergone repairs in a shipyard in the United States equal to at least 3 times the appraised salvage value of the vessel. (b) Appraisals.—The Secretary may appoint a board of three appraisers to determine whether a vessel satisfies subsection (a)(2). The costs of the appraisal shall be paid by the owner of the vessel.
(a) Requirements.—A vessel is a wrecked vessel under this chapter if it— (1) was wrecked on a coast of the United States or adjacent waters; and (2) has undergone repairs in a shipyard in the United States equal to at least 3 times the appraised salvage value of the vessel. (b) Appraisals.—The Secretary may appoint a board of three appraisers to determine whether a vessel satisfies subsection (a)(2). The costs of the appraisal shall be paid by the owner of the vessel.