Section 56306 - Use and transfer of vessels(a) IN GENERAL.-The Secretary of Transportation may repair, recondition, reconstruct, operate, or charter for operation, a vessel acquired under this chapter.(b) TRANSFER TO OTHER AGENCIES.-The Secretary may transfer the possession or control of a vessel acquired under this chapter to another department or agency of the United States Government on terms and conditions approved by the President. The department or agency shall promptly reimburse the Secretary for expenditures for just compensation, purchase price, charter hire, repairs, reconditioning, or reconstruction. Pub. L. 109-304, §8(c), Oct. 6, 2006, 120 Stat. 1656.| HISTORICAL AND REVISION NOTES |
| Revised Section | Source (U.S. Code) | Source (Statutes at Large) |
| 56306 | 46 App.:1242(e). | June 29, 1936, ch. 858, title IX, §902(e); as added Aug. 7, 1939, ch. 555, §3, 53 Stat. 1256; Pub. L. 97-31, §12(131), Aug. 6, 1981, 95 Stat. 165. |
In this section, the word "vessel" is substituted for "property" for consistency in the chapter.In subsection (b), the words "Such reimbursements shall be deposited in the construction fund established by section 1116 of this Appendix" are omitted as impliedly repealed by 46 App. U.S.C. 1119 as amended in 1967.