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46 U.S.C. § 57112 — Requirements for purchasing federally auctioned vessels
Federal law — U.S. Code and appendices · legal_authorities
**(a) In General.—** To be eligible to purchase a covered vessel from the Federal Government, a person shall provide proof of—
(1) liability insurance for the operator of such covered vessel;
(2) financial resources sufficient to cover maintenance costs of such covered vessel; and
(3) with respect to a covered vessel requiring documentation under chapter 121, an admiralty bond or stipulation.
**(b) Covered Vessel Defined.—** In this section, the term “covered vessel” means—
(1) a government owned vessel disposed of in accordance with this part and [section 548 of title 40](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title40-section548&num=0&edition=prelim);
(2) a vessel seized or forfeited pursuant to any law, and auctioned by the Federal Government, including a vessel seized or forfeited pursuant to section 7301 or 7302 of the Internal Revenue Code of 1986; or
(3) a fishing vessel seized or forfeited pursuant to section 310 of the Magnuson-Stevens Fishery Conservation and Management Act ([16 U.S.C. 1860](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title16-section1860&num=0&edition=prelim)).
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Source file: Laws/federal/codes/united-states-code/title-46/section-57112-requirements-for-purchasing-federally-auctioned-vessels--11bb540590.md
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Source location: Title 46, Chapter 571, § 57112; chapter-571-general-authority.md
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**(a) In General.—** To be eligible to purchase a covered vessel from the Federal Government, a person shall provide proof of—
(1) liability insurance for the operator of such covered vessel;
(2) financial resources sufficient to cover maintenance costs of such covered vessel; and
(3) with respect to a covered vessel requiring documentation under chapter 121, an admiralty bond or stipulation.
**(b) Covered Vessel Defined.—** In this section, the term “covered vessel” means—
(1) a government owned vessel disposed of in accordance with this part and [section 548 of title 40](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title40-section548&num=0&edition=prelim);
(2) a vessel seized or forfeited pursuant to any law, and auctioned by the Federal Government, including a vessel seized or forfeited pursuant to section 7301 or 7302 of the Internal Revenue Code of 1986; or
(3) a fishing vessel seized or forfeited pursuant to section 310 of the Magnuson-Stevens Fishery Conservation and Management Act ([16 U.S.C. 1860](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title16-section1860&num=0&edition=prelim)).
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Federal law — U.S. Code and appendices · legal_authorities
**(a) In general** Any fishing vessel (including its fishing gear, furniture, appurtenances, stores, and cargo) used, and any fish (or the fair market value thereof) taken or retained, in any manner, in connection with or as a result of the commission of any act prohibited by [section 1857 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title16-section1857&num=0&edition=prelim) (other than any act for which the issuance of a citation under [section 1861(c) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title16-section1861/c&num=0&edition=prelim) is sufficient sanction) shall be subject to forfeiture to the United States. All or part of such vessel may, and all such fish (or the fair market value thereof) shall, be forfeited to the United States pursuant to a civil proceeding under this section.
**(b) Jurisdiction of district courts** Any district court of the United States which has jurisdiction under [section 1861(d) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title16-section1861/d&num=0&edition=prelim) shall have jurisdiction, upon application by the Attorney General on behalf of the United States, to order any forfeiture authorized under subsection (a) and any action provided for under subsection (d).
**(c) Judgment** If a judgment is entered for the United States in a civil forfeiture proceeding under this section, the Attorney General may seize any property or other interest declared forfeited to the United States, which has not previously been seized pursuant to this chapter or for which security has not previously been obtained under subsection (d). The provisions of the customs laws relating to—
(1) the seizure, forfeiture, and condemnation of property for violation of th
Source: Supplied U.S. Code snapshot — release unconfirmed · 16 U.S.C. § 1860
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Federal law — U.S. Code and appendices · legal_authorities
**(a) In General.—** Except as provided in subsection (b), the Maritime Administration shall dispose of surplus vessels of 1,500 gross tons or more which the Administration determines to be merchant vessels or capable of conversion to merchant use. The vessels shall be disposed of in accordance with part F of subtitle V of title 46 and other laws authorizing the sale of such vessels.
**(b) National Oceanic and Atmospheric Administration Vessels and Equipment.—**
(1) **Authority.—** — The Administrator of the National Oceanic and Atmospheric Administration may dispose of covered vessels and equipment, which would otherwise be disposed of under subsection (a), through sales or transfers under this title.
(2) **Use of proceeds.—** — During the 2-year period beginning of the date of enactment of the National Defense Authorization Act for Fiscal Year 2026, notwithstanding [section 571 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title40-section571&num=0&edition=prelim) or [section 3302 of title 31](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title31-section3302&num=0&edition=prelim), the Administrator of the National Oceanic and Atmospheric Administration may—
(A) retain the proceeds from the sale or transfer of a covered vessel or equipment under paragraph (1) until expended under subparagraph (B); and
(B) use such proceeds, without fiscal year limitation, for the acquisition of new covered vessels and equipment or the repair and maintenance of existing covered vessels and equipment.
(3) **Covered vessels and equipment defined.—** — In this subsection, the term “covered vessels and equipment” means survey and research vessels and related equipment owned by the Federal Government and under the control of the National
Source: Supplied U.S. Code snapshot — release unconfirmed · 40 U.S.C. § 548
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Federal law — U.S. Code and appendices · legal_authorities
Page 2102
TITLE 16—CONSERVATION
§ 1860
Statutory Notes and Related Subsidiaries
EFFECTIVE DATE OF 1983 AMENDMENT
Pub. L. 97–453, § 11(b), Jan. 12, 1983, 96 Stat. 2491, pro-
vided that: ‘‘The amendment made by subsection (a)
[amending this section] applies with respect to offenses
committed under section 309 [this section] on or after
the date of the enactment of this Act [Jan. 12, 1983].’’
EFFECTIVE DATE
Section effective Mar. 1, 1977, see section 312 of Pub.
L. 94–265, formerly set out as a note under section 1857
of this title.
§ 1860. Civil forfeitures
(a) In general
Any fishing vessel (including its fishing gear,
furniture, appurtenances, stores, and cargo)
used, and any fish (or the fair market value
thereof) taken or retained, in any manner, in
connection with or as a result of the commission
of any act prohibited by section 1857 of this title
(other than any act for which the issuance of a
citation under section 1861(c) of this title is suf-
ficient sanction) shall be subject to forfeiture to
the United States. All or part of such vessel
may, and all such fish (or the fair market value
thereof) shall, be forfeited to the United States
pursuant to a civil proceeding under this sec-
tion.
(b) Jurisdiction of district courts
Any district court of the United States which
has jurisdiction under section 1861(d) of this
title shall have jurisdiction, upon application by
the Attorney General on behalf of the United
States, to order any forfeiture authorized under
subsection (a) and any action provided for under
subsection (d).
(c) Judgment
If a judgment is entered for the United States
in a civil forfeiture proceeding under this sec-
tion, the Attorney General may seize any prop-
erty or other interest declared forfeited to the
United St
Source: Supplied 2024 U.S. Code historical extraction · 16 U.S.C. § 1860
Stored review status: historical_2024_not_currentness_verified. The source passage cites 16 U.S.C. § 1860. This identifies an authority to review, not proof of applicability.
Federal law — U.S. Code and appendices · legal_authorities
Page 515
TITLE 46—SHIPPING
§ 57303
§ 57112. Requirements for purchasing federally
auctioned vessels
(a) IN GENERAL.—To be eligible to purchase a
covered vessel from the Federal Government, a
person shall provide proof of—
(1) liability insurance for the operator of
such covered vessel;
(2) financial resources sufficient to cover
maintenance costs of such covered vessel; and
(3) with respect to a covered vessel requiring
documentation under chapter 121, an admi-
ralty bond or stipulation.
(b) COVERED VESSEL DEFINED.—In this section,
the term ‘‘covered vessel’’ means—
(1) a government owned vessel disposed of in
accordance with this part and section 548 of
title 40;
(2) a vessel seized or forfeited pursuant to
any law, and auctioned by the Federal Govern-
ment, including a vessel seized or forfeited
pursuant to section 7301 or 7302 of the Internal
Revenue Code of 1986; or
(3) a fishing vessel seized or forfeited pursu-
ant to section 310 of the Magnuson-Stevens
Fishery Conservation and Management Act (16
U.S.C. 1860).
(Added Pub. L. 118–159, div. C, title XXXV,
§ 3532(a), Dec. 23, 2024, 138 Stat. 2312.)
Editorial Notes
REFERENCES IN TEXT
Sections 7301 and 7302 of the Internal Revenue Code of
1986, referred to in subsec. (b)(2), are classified to sec-
tions 7301 and 7302, respectively, of Title 26, Internal
Revenue Code.
CHAPTER 573—VESSEL TRADE-IN PROGRAM
Sec.
57301.
Definitions.
57302.
Authority to acquire vessels.
57303.
Utility value and tonnage requirements.
57304.
Eligible acquisition dates.
57305.
Determination of trade-in allowance.
57306.
Payment of trade-in allowance.
57307.
Recognition of gain for tax purposes.
57308.
Use of vessels at least 25 years old.
§ 57301. Definitions
In this chapter:
(1) NEW
VESSEL.—The term
Source: Supplied 2024 U.S. Code historical extraction · 46 U.S.C. § 57112
Stored review status: historical_2024_not_currentness_verified. Same stored citation; legal effect and authority still require review.