Us Code § 53903 - Insurable interests
Full text of Us Code United States Code § 53903 — Insurable interests, with citation guidance and answers to common questions.
§ 53903. Insurable interests
(a)
(1) an American vessel, including a vessel under construction;
(2) a foreign vessel—
(A) owned by a citizen of the United States; or
(B) engaged in transportation in the waterborne commerce of the United States or in such other transportation by water or such other services as the Secretary considers to be in the interest of the national defense or national economy of the United States, when so engaged;
(3) cargo—
(A) shipped or to be shipped on a vessel insurable under this section, including by express or registered mail;
(B) owned by a citizen or resident of the United States;
(C) imported to or exported from the United States, or sold or purchased by a citizen or resident of the United States, under a contract of sale or purchase the terms of which provide that the risk of loss by war risks or the obligation to provide insurance against war risks is on a citizen or resident of the United States; or
(D) shipped between ports in the United States;
(4) disbursements, including advances to masters and general average disbursements, and freight and passage money of a vessel insurable under this section;
(5) personal effects of an individual on a vessel insurable under this section;
(6) loss of life, injury, or detention by an enemy of the United States after capture, with respect to an individual on a vessel insurable under this section; and
(7) statutory or contractual obligations or other liabilities of a vessel insurable under this section or of the owner or charterer of such a vessel, of a nature customarily covered by insurance.
(b)
(c)
(Pub. L. 109–304, §8(c), Oct. 6, 2006, 120 Stat. 1627.)
| Revised Section | Source (U.S. Code) | Source (Statutes at Large) |
|---|---|---|
| 53903(a) | 46 App.:1283(a) (1st sentence), (b) (1st sentence), (c)–(f). | June 29, 1936, ch. 858, title XII, §1203(a) (1st, 2d sentences), (b) (1st sentence), (c)–(f), as added Sept. 7, 1950, ch. 906, 64 Stat. 773, 774; Pub. L. 94–523, §§1–3, Oct. 17, 1976, 90 Stat. 2474. |
| 53903(b) | 46 App.:1283(a) (2d sentence). | |
| 53903(c) | 46 App.:1284. | June 29, 1936, ch. 858, title XII, §1204, as added Sept. 7, 1950, ch. 906, 64 Stat. 774. |
In subsections (a)(2) and (b), the words "foreign vessel" are substituted for "foreign-flag vessels" because of the definition of "foreign vessel" in chapter 1 of the revised title.
In paragraph (3), references to the territories and possessions of the United States are omitted as unnecessary because of the definition of "United States" in chapter 1 of the revised title.
In paragraph (5), the words "individual on a vessel insurable under this section" are substituted for "masters, officers, and crews of such vessels, and of other persons transported on such vessels" to eliminate unnecessary words.
In paragraph (6), the words "individual on a vessel insurable under this section" are substituted for "Masters, officers, members of the crews of such vessels and other persons employed or transported thereon" to eliminate unnecessary words.
About This Section
46 U.S.C. § 53903 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.
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