Statute · United States Code
46 U.S.C. § 58102 — Default on payment or maintenance of reserves
46 U.S.C. § 58102
- Type
- Statute
- Source
- United States Code
- Jurisdiction
- Federal
- Date
- 2025-01-06
- Topic
- employee-benefits-and-executive-compensation
The Secretary of Transportation may supervise the number and compensation of all officers and employees of a contractor under the operating-differential subsidy program or a charterer under chapter 575 of this title, receiving an operating-differential subsidy, if the contractor or charterer— (1) is in default on a mortgage, note, purchase contract, or other obligation to the Secretary; or (2) has not maintained, in a manner satisfactory to the Secretary, all of the reserves provided for in this subtitle.
Citator
46 U.S.C. § 58102 — Default on payment or maintenance of reserves is in force in the current edition of the Code, and nothing recorded condemns it.
The Secretary of Transportation may supervise the number and compensation of all officers and employees of a contractor under the operating-differential subsidy program or a charterer under chapter 575 of this title, receiving an operating-differential subsidy, if the contractor or charterer— (1) is in default on a mortgage, note, purchase contract, or other obligation to the Secretary; or (2) has not maintained, in a manner satisfactory to the Secretary, all of the reserves provided for in this subtitle.