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Co-Authored-By: Claude Opus 4.8 <noreply@anthropic.com>
2026-07-06 10:51:44 -04:00

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LegalText 46 U.S.C. § 57514 Qualifications of bidders us united_states_code code_section 46 SHIPPING 575 CONSTRUCTION, CHARTER, AND SALE OF VESSELS 57514 46 U.S.C. § 57514 current 119-100 2026-06-26 official https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc46@119-100.zip /us/usc/t46/s57514 data/legal/raw/us/code/title-46/usc46.xml 4e8cf266c47c68653ce428686cbaa960752f12192755b1b023187d9270d298ac eb1331aa3c08ed87231a3606d86b30d1b5942cdf8542f6a3df8ac1d66e86057f 01088876c98b14c8dbb05327cf7b64f46149c39b6c18f35e8cb7a8de4b5795f6 2026-07-04 official
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46 U.S.C. § 57514 - Qualifications of bidders

Text

(a) Considerations.— In deciding whether to award a charter to a bidder, the Secretary of Transportation shall consider—

(1) the bidders financial resources, credit standing, and practical experience in operating vessels; and

(2) other factors a prudent business person would consider in entering into a transaction involving a large capital investment.

(b) Disqualifications.— The Secretary may not charter a vessel to a person appearing to lack sufficient capital, credit, and experience to operate the vessel successfully over the period covered by the charter.

(Pub. L. 109304, § 8(c), Oct. 6, 2006, 120 Stat. 1666.)

Notes

Historical and Revision Notes RevisedSectionSource (U.S. Code)Source (Statutes at Large) 5751446 App.:1203.June 29, 1936, ch. 858, title VII, § 713, 49 Stat. 2010; Pub. L. 9731, § 12(115), Aug. 6, 1981, 95 Stat. 164.