Statute · United States Code
46 U.S.C. § 56501 — Definition
46 U.S.C. § 56501
- Type
- Statute
- Source
- United States Code
- Jurisdiction
- Federal
- Date
- 2025-01-06
- Topic
- bankruptcy
In this chapter, the term "essential vessel" means a vessel that is— (1)(A) security for a mortgage indebtedness to the United States Government; or (B) constructed under this subtitle or required by a contract under this subtitle to be operated on a certain essential foreign trade route; and (2) necessary in the interests of commerce and national defense to be maintained in condition for prompt use.
In this chapter, the term "essential vessel" means a vessel that is— (1)(A) security for a mortgage indebtedness to the United States Government; or (B) constructed under this subtitle or required by a contract under this subtitle to be operated on a certain essential foreign trade route; and (2) necessary in the interests of commerce and national defense to be maintained in condition for prompt use.