Us Code § 53412 - Acquisition of Fleet vessels

Full text of Us Code United States Code § 53412 — Acquisition of Fleet vessels, with citation guidance and answers to common questions.

§ 53412. Acquisition of Fleet vessels

(a) In General.—Upon replacement of a Fleet vessel under an operating agreement under this chapter, and subject to agreement by the program participant of the vessel, the Secretary of Transportation is authorized, subject to the concurrence of the Secretary of Defense, acquire the vessel being replaced for inclusion in the National Defense Reserve Fleet.

(b) Requirements.—To be eligible for acquisition by the Secretary of Transportation under this section a vessel shall—

(1) have been covered by an operating agreement under this chapter for not less than 3 years; and

(2) meet recapitalization requirements for the Ready Reserve Force.


(c) Fair Market Value.—A fair market value shall be established by the Maritime Administration for acquisition of an eligible vessel under this section.

(d) Appropriations.—Vessel acquisitions under this section shall be subject to the availability of appropriations. Amounts made available to carry out this section shall be derived from amounts authorized to be appropriated for the National Defense Reserve Fleet. Amounts authorized to be appropriated to carry out the Maritime Security Program may not be use to carry out this section.

(Added Pub. L. 116–283, div. C, title XXXV, §3511(a), Jan. 1, 2021, 134 Stat. 4418.)

CHAPTER 535—CAPITAL CONSTRUCTION FUNDS

Sec.
53501.
Definitions.
53502.
Regulations.
53503.
Establishing a capital construction fund.
53504.
Deposits and withdrawals.
53505.
Ceiling on deposits.
53506.
Investment and fiduciary requirements.
53507.
Nontaxation of deposits.
53508.
Separate accounts within a fund.
53509.
Qualified withdrawals.
53510.
Tax treatment of qualified withdrawals and basis of property.
53511.
Tax treatment of nonqualified withdrawals.
53512.
FIFO and LIFO withdrawals.
53513.
Corporate reorganizations and partnership changes.
53514.
Relationship of old fund to new fund.
53515.
Records and reports.
53516.
Termination of agreement after change in regulations.
53517.
Reports.

        

About This Section

46 U.S.C. § 53412 is part of Title 46 of the United States Code. The United States Code is the official codification of federal statutes maintained by the Office of the Law Revision Counsel of the U.S. House of Representatives. Congress amends the Code through new public laws, which are eventually incorporated into the relevant title.

This section may be cited in legal writing as 46 U.S.C. § 53412. For the most current official text, including any recent amendments, use the official source links below. Do not rely on this page as the sole authority for legal citation or litigation.

How to Read This Statute

Statutes are organized by title, chapter, section, and subsection. Pay attention to words like "shall," "may," "and," and "or," because they determine whether a requirement is mandatory or permissive and whether multiple conditions must all be met. Historical notes and amendments often appear at the end of a section.

Using This Page

This page is intended for research and educational use. Lawyers, students, journalists, and compliance professionals can use it as a starting point, but should always verify the current text through an official government source before relying on it for legal advice, filings, or compliance decisions.

Sources

Source: official Us Code text · Last verified 2026-08-27

Related Us Code Legal Topics

Frequently Asked Questions About Us Code § 53412

What does United States Code § 53412 cover?

Section 53412 ("Acquisition of Fleet vessels") is part of the United States Code, the codified statutory law of Us Code. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.

How do I cite Us Code § 53412?

A common citation format is "United States Code § 53412" (Us Code). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.

Is this the official text of Us Code law?

No. This page is for research and education and may not include the most recent amendments. For official current law, check the Us Code official source linked on this page or consult a licensed Us Code attorney.

How does Us Code § 53412 apply to my situation?

Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Us Code can advise on how this section applies to you. Contact your state or local bar association for a referral.

Sources & Verification

Not legal advice. Verify against the official source and consult a licensed attorney in Us Code.