46 USC 57304 – Eligible acquisition dates
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At the option of the owner, the acquisition of an obsolete vessel under this chapter shall occur—
(1) when the owner contracts for the construction or purchase of a new vessel; or
(2) within 5 days of the actual date of delivery of the new vessel to the owner.
Terms Used In 46 USC 57304
- vessel: includes every description of watercraft or other artificial contrivance used, or capable of being used, as a means of transportation on water. See 1 USC 3