46 USC 53305 – Eligible fund deposits
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A construction reserve fund may include deposits of—
(1) the proceeds from the sale of a vessel;
(2) indemnities for the loss of a vessel;
(3) earnings from the operation of a documented vessel and from services incident to the operation; and
(4) interest or other amounts accrued on deposits in the fund.
Terms Used In 46 USC 53305
- 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