§ 57304. Eligible acquisition dates

46 U.S.C. § 57304 (N/A)
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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.

(Pub. L. 109–304, § 8(c), Oct. 6, 2006, 120 Stat. 1662.)