FEDERAL · 46 U.S.C. · Chapter 581
Default on payment or maintenance of reserves
46 U.S.C. § 58102
Title46 — Shipping
Chapter581 — RESTRICTIONS AND PENALTIES
This text of 46 U.S.C. § 58102 (Default on payment or maintenance of reserves) is published on Counsel Stack Legal Research, covering United States primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
46 U.S.C. § 58102.
Text
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.
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Source Credit
History
(Pub. L. 109–304, §8(c), Oct. 6, 2006, 120 Stat. 1671.)
Editorial Notes
The words "contractor under the operating-differential subsidy program or a charterer under chapter 575 of this title, receiving an operating-differential subsidy" are substituted for "contractor under part A of subchapter VI of this chapter or subchapter VII of this chapter receiving an operating-differential subsidy" for the reasons explained under section 58101.
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Bluebook (online)
46 U.S.C. § 58102, Counsel Stack Legal Research, https://law.counselstack.com/usc/46/58102.