Page:United States Statutes at Large Volume 120.djvu/1526

 PUBLIC LAW 109–304—OCT. 6, 2006

120 STAT. 1495

the vessel that may adversely affect the interests of the United States. ‘‘(B) AUTHORITY OF NON-CITIZENS.—If any person that is not a citizen of the United States has authority to direct or participate in directing a trustee for a trust in matters involving any ownership or operation of the vessel that may adversely affect the interests of the United States or in removing a trustee for a trust without cause, either directly or indirectly through the control of another person, the trust is not qualified under this paragraph unless the trust instrument provides that persons who are not citizens of the United States may not hold more than 25 percent of the aggregate authority to so direct or remove a trustee. ‘‘(C) OWNERSHIP BY NON-CITIZENS.—Subparagraphs (A) and (B) do not prohibit a person that is not a citizen of the United States from holding more than 25 percent of the beneficial interest in a trust. ‘‘(3) CITIZENSHIP OF PERSON CHARTERING VESSEL.—If a person chartering a vessel from a trust that qualifies under paragraph (2) is a citizen of the United States under section 50501 of this title, the vessel is deemed to be owned by a citizen of the United States for purposes of that section and related laws, except chapter 531 of this title. ‘‘§ 12112. Coastwise endorsement ‘‘(a) REQUIREMENTS.—A coastwise endorsement may be issued for a vessel that— ‘‘(1) satisfies the requirements of section 12103 of this title; ‘‘(2)(A) was built in the United States; or ‘‘(B) if not built in the United States— ‘‘(i) was captured in war by citizens of the United States and lawfully condemned as prize; ‘‘(ii) was adjudged to be forfeited for a breach of the laws of the United States; or ‘‘(iii) qualifies as a wrecked vessel under section 12107 of this title; and ‘‘(3) otherwise qualifies under the laws of the United States to engage in the coastwise trade. ‘‘(b) AUTHORIZED ACTIVITY.—Subject to the laws of the United States regulating the coastwise trade, a vessel for which a coastwise endorsement is issued may engage in the coastwise trade. ‘‘§ 12113. Fishery endorsement ‘‘(a) REQUIREMENTS.—A fishery endorsement may be issued for a vessel that— ‘‘(1) satisfies the requirements of section 12103 of this title and, if owned by an entity, the entity satisfies the ownership requirements in subsection (c); ‘‘(2) was built in the United States; ‘‘(3) if rebuilt, was rebuilt in the United States; ‘‘(4) was not forfeited to the United States Government after July 1, 2001, for a breach of the laws of the United States; and ‘‘(5) otherwise qualifies under the laws of the United States to engage in the fisheries. ‘‘(b) AUTHORIZED ACTIVITY.—

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