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46 U.S.C. § 53735 — Fisheries financing and capacity reduc-
Federal law — U.S. Code and appendices · legal_authorities
Page 461
TITLE 46—SHIPPING
§ 53901
2006—Pub. L. 109–163, § 3507(a)(1)(E), which directed
the amendment of section 1274a of the former Appendix
to this title from which this section was derived, was
repealed by Pub. L. 110–181, § 3522(b). See 2008 Amend-
ment notes and Historical and Revision notes above.
§ 53735. Fisheries financing and capacity reduc-
tion
(a) DEFINITION.—In this section, the term ‘‘pro-
gram’’ means a fishing capacity reduction pro-
gram established under section 312 of the Mag-
nuson-Stevens Fishery Conservation and Man-
agement Act (16 U.S.C. 1861a).
(b) GUARANTEE
AUTHORITY.—The Secretary
may guarantee the repayment of debt obliga-
tions issued by entities under this section. Debt
obligations to be guaranteed may be issued by
any entity that has been approved by the Sec-
retary and has agreed with the Secretary to con-
ditions the Secretary considers necessary for
this section to achieve the objective of the pro-
gram and to protect the interest of the United
States.
(c) REQUIREMENTS OF OBLIGATIONS.—A debt ob-
ligation guaranteed under this section shall—
(1) be treated in the same manner and to the
same extent as other obligations guaranteed
under this chapter, except with respect to pro-
visions of this chapter that by their nature
cannot be applied to obligations guaranteed
under this section;
(2) have the fishing fees established under
the program paid into a separate subaccount
of the fishing capacity reduction fund estab-
lished under this section;
(3) not exceed $100,000,000 in an unpaid prin-
cipal amount outstanding at any one time for
a program;
(4) have such maturity (not to exceed 20
years), take such form, and contain such con-
ditions as the Secretary determines necessary
for the program to which they relate;
(
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Source location: USCODE-2024-title46-subtitleV-partC-chap537-subchapIII-sec53735.pdf
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Page 461
TITLE 46—SHIPPING
§ 53901
2006—Pub. L. 109–163, § 3507(a)(1)(E), which directed
the amendment of section 1274a of the former Appendix
to this title from which this section was derived, was
repealed by Pub. L. 110–181, § 3522(b). See 2008 Amend-
ment notes and Historical and Revision notes above.
§ 53735. Fisheries financing and capacity reduc-
tion
(a) DEFINITION.—In this section, the term ‘‘pro-
gram’’ means a fishing capacity reduction pro-
gram established under section 312 of the Mag-
nuson-Stevens Fishery Conservation and Man-
agement Act (16 U.S.C. 1861a).
(b) GUARANTEE
AUTHORITY.—The Secretary
may guarantee the repayment of debt obliga-
tions issued by entities under this section. Debt
obligations to be guaranteed may be issued by
any entity that has been approved by the Sec-
retary and has agreed with the Secretary to con-
ditions the Secretary considers necessary for
this section to achieve the objective of the pro-
gram and to protect the interest of the United
States.
(c) REQUIREMENTS OF OBLIGATIONS.—A debt ob-
ligation guaranteed under this section shall—
(1) be treated in the same manner and to the
same extent as other obligations guaranteed
under this chapter, except with respect to pro-
visions of this chapter that by their nature
cannot be applied to obligations guaranteed
under this section;
(2) have the fishing fees established under
the program paid into a separate subaccount
of the fishing capacity reduction fund estab-
lished under this section;
(3) not exceed $100,000,000 in an unpaid prin-
cipal amount outstanding at any one time for
a program;
(4) have such maturity (not to exceed 20
years), take such form, and contain such con-
ditions as the Secretary determines necessary
for the program to which they relate;
(5) have as the exclusive source of repay-
ment (subject to the second sentence of sub-
section (d)(2)) and as the exclusive payment
security, the fishing fees established under the
program; and
(6) at the discretion of the Secretary be
issued in the public market or sold to the Fed-
eral Financing Bank.
(d) FISHING CAPACITY REDUCTION FUND.—
(1) IN GENERAL.—There is a separate account
in the Treasury, known as the Fishing Capac-
ity Reduction Fund. Within the Fund, at least
one subaccount shall be established for each
program into which shall be paid all fishing
fees established under the program and other
amounts authorized for the program.
(2) AVAILABILITY OF AMOUNTS.—Amounts in
the Fund shall be available, without appro-
priation or fiscal year limitation, to the Sec-
retary to pay the cost of the program, includ-
ing payments to financial institutions to pay
debt obligations incurred by entities under
this section. Funds available for this purpose
from other amounts available for the program
may also be used to pay those debt obliga-
tions.
(3) INVESTMENT.—Amounts in the Fund that
are not currently needed for the purpose of
this section shall be kept on deposit or in-
vested in obligations of the United States Gov-
ernment.
(e) REGULATIONS.—The Secretary shall pre-
scribe regulations the Secretary considers nec-
essary to carry out this section.
(Pub. L. 109–304, § 8(c), Oct. 6, 2006, 120 Stat. 1625;
Pub.
L.
109–163,
div.
C,
title
XXXV,
§ 3507(a)(1)(H), (d), Jan. 6, 2006, 119 Stat. 3555,
3557; Pub. L. 110–181, div. C, title XXXV, § 3522(b),
Jan. 28, 2008, 122 Stat. 598.)
HISTORICAL AND REVISION NOTES
Revised
Section
Source (U.S. Code)
Source (Statutes at Large)
53735(a) ......
46 App.:1279f(e).
June 29, 1936, ch. 858, title
XI, § 1111, as added Pub. L.
104–297, title III, § 303, Oct.
11, 1996, 110 Stat. 3616;
Pub. L. 104–208, title I,
§ 101
[title
II,
§ 211(b)],
Sept. 30, 1996, 110 Stat.
3009–41.
53735(b) ......
46 App.:1279f(a).
53735(c) ......
46 App.:1279f(b).
53735(d) ......
46 App.:1279f(c).
53735(e) ......
46 App.:1279f(d).
Editorial Notes
CODIFICATION
This section was derived from section 1111 of act June
29, 1936, as added by Pub. L. 104–297, § 303, which was
classified to section 1279f of the former Appendix to
this title. Section 1111 was renumbered section 1113 of
the Act by Pub. L. 109–163, div. C, title XXXV, § 3507(d),
Jan. 6, 2006, 119 Stat. 3557, which was repealed by Pub.
L. 110–181, div. C, title XXXV, § 3522(b), Jan. 28, 2008, 122
Stat. 598. See Historical and Revision notes above and
section 18(a) of Pub. L. 109–304, set out as a Legislative
Purpose and Construction note preceding section 101 of
this title.
AMENDMENTS
2008—Pub.
L.
110–181
repealed
Pub. L.
109–163,
§ 3507(a)(1)(H), (d). See 2006 Amendment note below and
Codification note above.
2006—Pub. L. 109–163, § 3507(a)(1)(H), which directed
the amendment of section 1279f of the former Appendix
to this title from which this section was derived by
substituting ‘‘Secretary or Administrator’’ for ‘‘Sec-
retary’’ wherever appearing, was repealed by Pub. L.
110–181, § 3522(b). See Historical and Revision notes
above.
CHAPTER 539—WAR RISK INSURANCE
Sec.
53901.
Definitions.
53902.
Authority to provide insurance.
53903.
Insurable interests.
53904.
Liability insurance for persons involved in
war or defense efforts.
53905.
Agency insurance.
53906.
Hull insurance valuation.
53907.
Reinsurance.
53908.
Additional insurance privately obtained.
53909.
War risk insurance revolving fund.
53910.
Administrative.
53911.
Civil actions for losses.
[53912.
Repealed.]
Editorial Notes
AMENDMENTS
2018—Pub. L. 115–232, div. C, title XXXV, § 3504(b),
Aug. 13, 2018, 132 Stat. 2308, struck out item 53912 ‘‘Ex-
piration date’’.
§ 53901. Definitions
In this chapter:
Cross-references
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Fishery resource disaster relief**
(1) **Definitions** — In this subsection:
(A) *Allowable cause* — The term “allowable cause” means a natural cause, discrete anthropogenic cause, or undetermined cause, including a cause that occurred not more than 5 years prior to the date of a request for a fishery resource disaster determination that affected such applicable fishery.
(B) *Anthropogenic cause* — The term “anthropogenic cause” means an anthropogenic event, such as an oil spill or spillway opening—
(i) that could not have been addressed or prevented by fishery management measures; and
(ii) that is otherwise beyond the control of fishery managers to mitigate through conservation and management measures, including regulatory restrictions imposed as a result of judicial action or to protect human health or marine animals, plants, or habitats.
(C) *Fishery resource disaster* — The term “fishery resource disaster” means a disaster that is determined by the Secretary in accordance with this subsection and—
(i) is an unexpected large decrease in fish stock biomass or other change that results in significant loss of access to the fishery resource, which may include loss of fishing vessels and gear for a substantial period of time and results in significant revenue loss or negative subsistence impact due to an allowable cause; and
(ii) does not include—
(I) reasonably predictable, foreseeable, and recurrent fishery cyclical variations in species distribution or stock abundance; or
(II) reductions in fishing opportunities resulting from conservation and management measures taken pursuant to this chapter.
(D) *Indian Tribe* — The term “Indian Tribe” has the meaning given such term in [section 5130 of title 25](https://uscode.ho
Source: Supplied U.S. Code snapshot — release unconfirmed · 16 U.S.C. § 1861a
Stored review status: release_metadata_unconfirmed. The source passage cites 16 U.S.C. § 1861a. This identifies an authority to review, not proof of applicability.
Federal law — U.S. Code and appendices · legal_authorities
Page 2107
TITLE 16—CONSERVATION
§ 1861a
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.
TRANSFER OF FUNCTIONS
For transfer of authorities, functions, personnel, and
assets of the Coast Guard, including the authorities
and functions of the Secretary of Transportation relat-
ing thereto, to the Department of Homeland Security,
and for treatment of related references, see sections
468(b), 551(d), 552(d), and 557 of Title 6, Domestic Secu-
rity, and the Department of Homeland Security Reor-
ganization Plan of November 25, 2002, as modified, set
out as a note under section 542 of Title 6.
FISHERIES ENFORCEMENT ASSET FORFEITURE FUND AND
SANCTUARIES ENFORCEMENT ASSET FORFEITURE FUND
Pub. L. 112–55, div. B, title I, §§ 110, 111, Nov. 18, 2011,
125 Stat. 602, provided that:
‘‘SEC. 110. There is established in the Treasury a non-
interest bearing fund to be known as the ‘Fisheries En-
forcement Asset Forfeiture Fund’, which shall consist
of all sums received as fines, penalties, and forfeitures
of property for violations of any provisions of 16 U.S.C.
chapter 38 or of any other marine resource law enforced
by the Secretary of Commerce, including the Lacey Act
Amendments of 1981 (16 U.S.C. 3371 et seq.) and with the
exception of collections pursuant to 16 U.S.C. 1437,
which are currently deposited in the Operations, Re-
search, and Facilities account: Provided, That all unob-
ligated balances that have been collected pursuant to
16 U.S.C. 1861 or any other marine resource law en-
forced by the Secretary of Commerce with the excep-
tion of 16 U.S.C. 1437 shall be transferred from the Oper-
ations, Research, and Facilities account into the Fish-
eries Enforcement As
Source: Supplied 2024 U.S. Code historical extraction · 16 U.S.C. § 1861a
Stored review status: historical_2024_not_currentness_verified. The source passage cites 16 U.S.C. § 1861a. This identifies an authority to review, not proof of applicability.
Federal law — U.S. Code and appendices · legal_authorities
**(a) Definition.—** In this section, the term “program” means a fishing capacity reduction program established under section 312 of the Magnuson-Stevens Fishery Conservation and Management Act ([16 U.S.C. 1861a](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title16-section1861a&num=0&edition=prelim)).
**(b) Guarantee Authority.—** The Secretary may guarantee the repayment of debt obligations issued by entities under this section. Debt obligations to be guaranteed may be issued by any entity that has been approved by the Secretary and has agreed with the Secretary to conditions the Secretary considers necessary for this section to achieve the objective of the program and to protect the interest of the United States.
**(c) Requirements of Obligations.—** A debt obligation guaranteed under this section shall—
(1) be treated in the same manner and to the same extent as other obligations guaranteed under this chapter, except with respect to provisions of this chapter that by their nature cannot be applied to obligations guaranteed under this section;
(2) have the fishing fees established under the program paid into a separate subaccount of the fishing capacity reduction fund established under this section;
(3) not exceed $100,000,000 in an unpaid principal amount outstanding at any one time for a program;
(4) have such maturity (not to exceed 20 years), take such form, and contain such conditions as the Secretary determines necessary for the program to which they relate;
(5) have as the exclusive source of repayment (subject to the second sentence of subsection (d)(2)) and as the exclusive payment security, the fishing fees established under the program; and
(6) at the discretion of the Secretary be issued in the public market or sold to the Federal F
Source: Supplied U.S. Code snapshot — release unconfirmed · 46 U.S.C. § 53735
Stored review status: release_metadata_unconfirmed. Same stored citation; legal effect and authority still require review.