46 USC § 53303 - Persons eligible to establish funds

---
identifier: "/us/usc/t46/s53303"
source: "usc"
legal_status: "official_legal_evidence"
title: "46 USC § 53303 - Persons eligible to establish funds"
title_number: 46
title_name: "SHIPPING"
section_number: "53303"
section_name: "Persons eligible to establish 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.)"
---


# § 53303. Persons eligible to establish funds

A construction reserve fund may be established by a citizen of the United States that—

**(1)** is operating a vessel in the foreign or domestic commerce of the United States or in the fisheries;

**(2)** owns, in whole or in part, a vessel being operated in the foreign or domestic commerce of the United States or in the fisheries;

**(3)** was operating a vessel in the foreign or domestic commerce of the United States or in the fisheries when it was bought or requisitioned by the United States Government;

**(4)** owned, in whole or in part, a vessel being operated in the foreign or domestic commerce of the United States or in the fisheries when it was bought or requisitioned by the Government; or

**(5)** had acquired or was having constructed a vessel to operate in the foreign or domestic commerce of the United States or in the fisheries when it was bought or requisitioned by the Government.

---

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

| RevisedSection | Source (U.S. Code) | Source (Statutes at Large) |
| --- | --- | --- |
| 53303 | 46 App.:1161(b) (1st sentence words between 6th and 10th commas). | June 29, 1936, ch. 858, title V, § 511(b) (1st sentence words between 6th and 10th commas), 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. |