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46 USC § 58102 - Default on payment or maintenance of reserves 

---
identifier: "/us/usc/t46/s58102"
source: "usc"
legal_status: "official_legal_evidence"
title: "46 USC § 58102 - Default on payment or maintenance of reserves"
title_number: 46
title_name: "SHIPPING"
section_number: "58102"
section_name: "Default on payment or maintenance of reserves"
chapter_number: 581
chapter_name: "RESTRICTIONS AND PENALTIES"
part_number: "G"
part_name: "Restrictions and Penalties"
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. 1671.)"
---

# § 58102. Default on payment or maintenance of reserves

The Secretary of Transportation may supervise the number and compensation of all officers and employees of a contractor under the operating-differential subsidy program or a charterer under chapter 575 of this title, receiving an operating-differential subsidy, if the contractor or charterer—

**(1)** is in default on a mortgage, note, purchase contract, or other obligation to the Secretary; or

**(2)** has not maintained, in a manner satisfactory to the Secretary, all of the reserves provided for in this subtitle.

---

**Source Credit**: (Pub. L. 109–304, § 8(c), Oct. 6, 2006, 120 Stat. 1671.)

| RevisedSection | Source (U.S. Code) | Source (Statutes at Large) |
| --- | --- | --- |
| 58102 | 46 App.:1223(b). | June 29, 1936, ch. 858, title VIII, § 805(b), 49 Stat. 2012; Pub. L. 97–31, § 12(122), Aug. 6, 1981, 95 Stat. 164; Pub. L. 104–239, § 4(b)(2), Oct. 8, 1996, 110 Stat. 3131. |

The words “contractor under the operating-differential subsidy program or a charterer under chapter 575 of this title, receiving an operating-differential subsidy” are substituted for “contractor under part A of subchapter VI of this chapter or subchapter VII of this chapter receiving an operating-differential subsidy” for the reasons explained under section 58101.