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16 U.S.C. § 742c — Loans for financing or refinancing of cost of purchasing, constructing, equipping, maintaining, repairing, or operating commercial fishing vessels or gear

Federal law — U.S. Code and appendices · legal_authorities

16 U.S.C. § 742c — Loans for financing or refinancing of cost of purchasing, constructing, equipping, maintaining, repairing, or operating commercial fishing vessels or gear

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Stable record: federal_law:legal_authorities:record_usc_f7e68c63ab479e08fd7284e9
Source file: Laws/federal/codes/united-states-code/title-16/section-742c-loans-for-financing-or-refinancing-of-cost-of-purchasing-constructing-eq--1ecff59647.md
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Source location: Title 16, Chapter 9, § 742c; chapter-009-fish-and-wildlife-service.md

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**(a) Authorization** The Secretary of the Interior is authorized, under such rules and regulations and under such terms and conditions as he may prescribe, to make loans for financing or refinancing of the cost of purchasing, constructing, equipping, maintaining, repairing, or operating new or used commercial fishing vessels or gear. **(b) Conditions** Any loans made under the provisions of this section shall be subject to the following restrictions: (1) Bear an interest rate of not less than (a) a rate determined by the Secretary of the Treasury, taking into consideration the average market yield on outstanding Treasury obligations of comparable maturity, plus (b) such additional charge, if any, toward covering other costs of the program as the Secretary may determine to be consistent with its purpose. (2) Mature in not more than ten years, except that where a loan is for all or part of the costs of constructing a new fishing vessel, such period may be fourteen years. (3) No financial assistance shall be extended pursuant to this section unless reasonable financial assistance applied for is not otherwise available on reasonable terms. (4) Loans shall be approved only upon the furnishing of such security or other reasonable assurance of repayment as the Secretary may require considering the objectives of this section which are to upgrade commercial fishing vessels and gear and to provide reasonable financial assistance not otherwise available to commercial fishermen. The proposed collateral for a loan must be of such a nature that, when considered with the integrity and ability of the management, and the applicant’s past and prospective earnings, repayment of the loan will be reasonably assured. (5) The applicant shall possess the ability, experience, resources, and other qualifications necessary to enable him to operate and maintain new or used commercial fishing vessels or gear. (6) Before the Secretary approves a loan for the purchase or construction of a new or used vessel which will not replace an existing commercial fishing vessel, he shall determine that the applicant’s contemplated operation of such vessel in a fishery will not cause economic hardship or injury to the efficient vessel operators already operating in that fishery. (7) An applicant for a fishery loan must be a citizen or national of the United States. (8) Within the meaning of this section, a corporation, partnership, or association shall not be deemed to be a citizen of the United States unless the Secretary determines that it satisfactorily meets all of the requirements set forth in [section 50501 of title 46](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title46-section50501&num=0&edition=prelim) for determining the United States citizenship of a corporation, partnership, or association operating a vessel in the coastwise trade. (9) (A) The nationality of an applicant shall be established to the satisfaction of the Secretary. Within the meaning of this section, no corporation, partnership, or association organized under the laws of American Samoa shall be deemed a national of the United States unless 75 per centum of the interest therein is owned by nationals of the United States, citizens of the United States, or both, and in the case of a corporation, unless its president or other chief executive officer and the chairman of its board are nationals or citizens of the United States and unless no more of its directors than a minority of the number necessary to constitute a quorum are nonnationals and noncitizens. (B) Seventy-five per centum of the interest in a corporation shall not be deemed to be owned by nationals of the United States, citizens of the United States, or both, (i) if the title to 75 per centum of its stock is not vested in such nationals and citizens free from any trust or fiduciary obligation in favor of any person not a national or citizen of the United States; or (ii) if 75 per centum of the voting power in such corporation is not vested in nationals of the United States, citizens of the United States, or both; or (iii) if through any contract or understanding it is so arranged that more than 25 per centum of the voting power may be exercised, directly or indirectly, in behalf of any person who is not a national or citizen of the United States; or (iv) if by any other means whatsoever control of any interest in the corporation in excess of 25 per centum is conferred upon or permitted to be exercised by any person who is not a national or citizen of the United States. **(c) Fisheries loan fund; interest payments on appropriations available as capital to the fund less average undispersed cash balance** There is created a fisheries loan fund, which shall be used by the Secretary as a revolving fund to make loans for financing and refinancing under this section. Any funds received by the Secretary on or before September 30, 1986, in payment of principal or interest on any loans so made shall be deposited in the fund and be available for making additional loans under this section. Any funds received in the fisheries loan fund after September 30, 1986, shall be covered into the Treasury as miscellaneous receipts. There is authorized to be appropriated to the fisheries loan fund the sum of $20,000,000 to provide initial capital. **(d) Modification of loan contract** The Secretary, subject to the specific limitations in this section, may consent to the modification, with respect to the rate of interest, time of payment of any installment of principal, or security, of any loan contract to which he is a party. **(e) Chartering vessels; loans to Alaskan earthquake victims; termination date** The Secretary is authorized under such terms and conditions and pursuant to regulations prescribed by him to use the funds appropriated under this section to make loans to commercial fishermen for the purpose of chartering fishing vessels pending the construction or repair of vessels lost, destroyed, or damaged by the earthquake of March 27, 1964, and subsequent tidal waves related thereto: Provided, That any loans made under this subsection shall only be repaid from the net profits of the operations of such chartered vessels, which profits shall be reduced by such reasonable amount as determined by the Secretary for the salary of the fishermen chartering such vessels. The funds authorized herein shall not be available for such loans after June 30, 1966.

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Federal law — U.S. Code and appendices · legal_authorities

46 U.S.C. § 50501 — Entities deemed citizens of the United States

**(a) In General.—** In this subtitle, a corporation, partnership, or association is deemed to be a citizen of the United States only if the controlling interest is owned by citizens of the United States. However, if the corporation, partnership, or association is operating a vessel in the coastwise trade, at least 75 percent of the interest must be owned by citizens of the United States. **(b) Additional Requirements for Corporations.—** In this subtitle, a corporation is deemed to be a citizen of the United States only if, in addition to satisfying the requirements in subsection (a)— (1) it is incorporated under the laws of the United States or a State; (2) its chief executive officer, by whatever title, and the chairman of its board of directors are citizens of the United States; and (3) no more of its directors are noncitizens than a minority of the number necessary to constitute a quorum. **(c) Determination of Controlling Corporate Interest.—** The controlling interest in a corporation is owned by citizens of the United States under subsection (a) only if— (1) title to the majority of the stock in the corporation is vested in citizens of the United States free from any trust or fiduciary obligation in favor of a person not a citizen of the United States; (2) the majority of the voting power in the corporation is vested in citizens of the United States; (3) there is no contract or understanding by which the majority of the voting power in the corporation may be exercised, directly or indirectly, in behalf of a person not a citizen of the United States; and (4) there is no other means by which control of the corporation is given to or permitted to be exercised by a person not a citizen of the United States. **(d) Determination of 75 Percent Corporate Inter

Source: Supplied U.S. Code snapshot — release unconfirmed · 46 U.S.C. § 50501

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Federal law — U.S. Code and appendices · legal_authorities

16 U.S.C. § 742b — United States Fish and Wildlife Service

**(a) Assistant Secretary for Fish and Wildlife** There is established within the Department of the Interior the position of Assistant Secretary for Fish and Wildlife. Such Assistant Secretary shall be appointed by the President, by and with the advice and consent of the Senate, and shall be compensated at the same rate as other Assistant Secretaries. **(b) Establishment; Director of United States Fish and Wildlife Service; appointment; qualifications** There is established within the Department of the Interior the United States Fish and Wildlife Service. The functions of the United States Fish and Wildlife Service shall be administered under the supervision of the Director, who shall be subject to the supervision of the Assistant Secretary for Fish and Wildlife. The Director of the United States Fish and Wildlife Service shall be appointed by the President, by and with the advice and consent of the Senate. No individual may be appointed as the Director unless he is, by reason of scientific education and experience, knowledgeable in the principles of fisheries and wildlife management. **(c) Succession to United States Fish and Wildlife Service and Bureau of Sport Fisheries and Wildlife** The United States Fish and Wildlife Service established by subsection (b) shall succeed to and replace the United States Fish and Wildlife Service (as constituted on June 30, 1974) and the Bureau of Sport Fisheries and Wildlife (as constituted on such date). All laws and regulations in effect on June 30, 1974, which relate to matters administered by the Department of the Interior through the United States Fish and Wildlife Service (as constituted on such date) and the Bureau of Sport Fisheries and Wildlife (as constituted on such date) shall remain in effect. **(d) Functions and resp

Source: Supplied U.S. Code snapshot — release unconfirmed · 16 U.S.C. § 742b

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Federal law — U.S. Code and appendices · legal_authorities

16 U.S.C. § 1824 — Permits for foreign fishing

**(a) In general** After February 28, 1977, no foreign fishing vessel shall engage in fishing within the exclusive economic zone, or for anadromous species or Continental Shelf fishery resources beyond such zone, unless such vessel has on board a valid permit issued under this section for such vessel. **(b) Applications and permits under governing international fishery agreements** (1) **Eligibility; duration** — Each foreign nation with which the United States has entered into a governing international fishery agreement shall submit an application to the Secretary of State each year for a permit for each of its fishing vessels that wishes to engage in fishing described in subsection (a). No permit issued under this section may be valid for longer than a year; and [section 558(c) of title 5](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title5-section558/c&num=0&edition=prelim) does not apply to the renewal of any such permit. (2) **Forms** — The Secretary, in consultation with the Secretary of State and the Secretary of the department in which the Coast Guard is operating, shall prescribe the forms for permit applications submitted under this subsection and for permits issued pursuant to any such application. (3) **Contents** — Any application made under this subsection shall specify— (A) the name and official number or other identification of each fishing vessel for which a permit is sought, together with the name and address of the owner thereof; (B) the tonnage, hold capacity, speed, processing equipment, type and quantity of fishing gear, and such other pertinent information with respect to characteristics of each such vessel as the Secretary may require; (C) each fishery in which each such vessel wishes to fish; (D) the estimated amo

Source: Supplied U.S. Code snapshot — release unconfirmed · 16 U.S.C. § 1824

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Federal law — U.S. Code and appendices · legal_authorities

16 U.S.C. § 742k — Management and disposition of vessels and other property acquired and arising out of fishery loans or related type of activities

For the purpose of facilitating administration of, and protecting the interest of the Government in, the fishery loan fund established by [section 742c of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title16-section742c&num=0&edition=prelim) and any related type of activities relating to fisheries for which the Department of the Interior is now or may hereafter be responsible, the Secretary of the Interior, notwithstanding any other provisions of law, may hereafter administer, complete, recondition, reconstruct, renovate, repair, maintain, operate, charter, assign, or sell upon such terms and conditions as he may deem most advantageous to the United States, any vessel, plant, or other property acquired by him on behalf of the United States and arising out of any fishery loan or any related type of activity by the Secretary of the Interior. The Secretary may use any of the applicable funds in each particular instance for the aforesaid purposes.

Source: Supplied U.S. Code snapshot — release unconfirmed · 16 U.S.C. § 742k

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Federal law — U.S. Code and appendices · legal_authorities

33 U.S.C. § 1901 — Definitions

**(a)** Unless the context indicates otherwise, as used in this chapter— (1) “Administrator” means the Administrator of the Environmental Protection Agency; (2) “Antarctica” means the area south of 60 degrees south latitude; (3) “Antarctic Protocol” means the Protocol on Environmental Protection to the Antarctic Treaty, signed October 4, 1991, in Madrid, and all annexes thereto, and includes any future amendments thereto which have entered into force; (4) “MARPOL Protocol” means the Protocol of 1978 relating to the International Convention for the Prevention of Pollution from Ships, 1973, and includes the Convention; (5) “Convention” means the International Convention for the Prevention of Pollution from Ships, 1973, including Protocols I and II and Annexes I, II, V, and VI thereto, including any modification or amendments to the Convention, Protocols, or Annexes which have entered into force for the United States; (6) “discharge”, “emission”, “garbage”, “harmful substance”, and “incident” shall have the meanings provided in the Convention; (7) “navigable waters” includes the territorial sea of the United States (as defined in Presidential Proclamation 5928 of December 27, 1988) and the internal waters of the United States; (8) “owner” means any person holding title to, or in the absence of title, any other indicia of ownership of, a ship or terminal, but does not include a person who, without participating in the management or operation of a ship or terminal, holds indicia of ownership primarily to protect a security interest in the ship or terminal; (9) “operator” means— (a) in the case of a ship, a charterer by demise or any other person, except the owner, who is responsible for the operation, manning, victualing, and supplying of the vessel, or (b) in the c

Source: Supplied U.S. Code snapshot — release unconfirmed · 33 U.S.C. § 1901

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Federal law — U.S. Code and appendices · legal_authorities

16 U.S.C. § 742c — Loans for financing or refinancing of cost

Page 1302 TITLE 16—CONSERVATION § 742b–1 ‘‘(II) solicit prize competition participants; ‘‘(III) administer funds relating to the prize competition; ‘‘(IV) receive Federal funds— ‘‘(aa) to administer the prize competition; and ‘‘(bb) to award a cash prize; ‘‘(V) carry out activities to generate contribu- tions of non-Federal funds to offset, in whole or in part— ‘‘(aa) the administrative costs of the prize competition; and ‘‘(bb) the costs of a cash prize; ‘‘(VI) in consultation with, and subject to final approval by, the Secretary, develop criteria for the selection of prize competition winners; ‘‘(VII) provide advice and consultation to the Secretary on the selection of judges under para- graphs (2)(E), (3)(E), (4)(E), (5)(E), (6)(E), and (7)(E) based on criteria developed in consultation with, and subject to the final approval of, the Sec- retary; ‘‘(VIII) announce 1 or more annual winners of the prize competition; ‘‘(IX) subject to clause (ii), award 1 cash prize annually; and ‘‘(X) protect against unauthorized use or disclo- sure by the National Fish and Wildlife Founda- tion of any trade secret or confidential business information of a prize competition participant. ‘‘(ii) ADDITIONAL CASH PRIZES.—An agreement shall provide that the National Fish and Wildlife Foundation may award more than 1 cash prize an- nually if the initial cash prize referred to in clause (i)(IX) and any additional cash prize are awarded using only non-Federal funds. ‘‘(iii) SOLICITATION OF FUNDS.—An agreement shall provide that the National Fish and Wildlife Foundation— ‘‘(I) may request and accept Federal funds and non-Federal funds for a cash prize; ‘‘(II) may accept a contribution for a cash prize in exchange for the right to name the prize; and ‘‘(III) shal

Source: Supplied 2024 U.S. Code historical extraction · 16 U.S.C. § 742c

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