46 USC § 53302 - Authority for construction reserve funds

---
identifier: "/us/usc/t46/s53302"
source: "usc"
legal_status: "official_legal_evidence"
title: "46 USC § 53302 - Authority for construction reserve funds"
title_number: 46
title_name: "SHIPPING"
section_number: "53302"
section_name: "Authority for construction reserve funds"
chapter_number: 533
chapter_name: "CONSTRUCTION RESERVE FUNDS"
part_number: "C"
part_name: "Financial Assistance Programs"
positive_law: true
currency: "119-84"
last_updated: "2026-03-26"
format_version: "1.1.0"
generator: "[email protected]"
source_credit: "(Pub. L. 109–304, § 8(c), Oct. 6, 2006, 120 Stat. 1587.)"
---


# § 53302. Authority for construction reserve funds

**(a)** **General Authority.—** An eligible person under section 53303 of this title may establish a construction reserve fund for the construction, reconstruction, reconditioning, or acquisition of a new vessel or for other purposes authorized by this chapter.

**(b)** **Application of Certain Laws and Regulations.—** The fund shall be established, maintained, expended, and used as provided by this chapter and regulations prescribed jointly by the Secretary of Transportation and the Secretary of the Treasury.

---

**Source Credit**: (Pub. L. 109–304, § 8(c), Oct. 6, 2006, 120 Stat. 1587.)

| RevisedSection | Source (U.S. Code) | Source (Statutes at Large) |
| --- | --- | --- |
| 53302(a) | 46 App.:1161(b) (1st sentence words before 6th comma and between 10th and 16th commas). | June 29, 1936, ch. 858, title V, § 511(b) (1st sentence words before 6th comma and between 10th and 16th commas, last sentence), as added Oct. 10, 1940, ch. 849, 54 Stat. 1106; June 17, 1943, ch. 130, subdiv. (a), 57 Stat. 157; July 17, 1952, ch. 939, § 9, 66 Stat. 762; Pub. L. 97–31, § 12(92)(A), Aug. 6, 1981, 95 Stat. 161. |
| 53302(b) | 46 App.:1161(b) (last sentence). |  |

In subsection (a), the words “necessary to carrying out the policy set forth in section 1101 of this Appendix” are omitted as unnecessary.