46 USC § 53308 - Order and proportions of deposits and withdrawals

---
identifier: "/us/usc/t46/s53308"
source: "usc"
legal_status: "official_legal_evidence"
title: "46 USC § 53308 - Order and proportions of deposits and withdrawals"
title_number: 46
title_name: "SHIPPING"
section_number: "53308"
section_name: "Order and proportions of deposits and withdrawals"
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. 1589.)"
---


# § 53308. Order and proportions of deposits and withdrawals

In this chapter—

**(1)** if the net proceeds of a sale or the net indemnity for a loss is deposited in more than one deposit, the amount consisting of the gain shall be deemed to be deposited first;

**(2)** amounts expended, obligated, or otherwise withdrawn shall be applied against the amounts deposited in the fund in the order of deposit; and

**(3)** if a deposit consists in part of a gain not recognized under section 53306 of this title, any expenditure, obligation, or withdrawal applied against that deposit shall be deemed to be a gain in the proportion that the part of the deposit consisting of a gain bears to the total amount of the deposit.

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**Source Credit**: (Pub. L. 109–304, § 8(c), Oct. 6, 2006, 120 Stat. 1589.)

| RevisedSection | Source (U.S. Code) | Source (Statutes at Large) |
| --- | --- | --- |
| 53308 | 46 App.:1161(e). | June 29, 1936, ch. 858, title V, § 511(e), as added Oct. 10, 1940, ch. 849, 54 Stat. 1107. |