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For more information visit our privacy policy.SEC. 607 (a) Agreement Rules.Capital Construction Fund Agreement • December 8th, 2014
Contract Type FiledDecember 8th, 2014Any citizen of the United States owning or leasing one or more eligible vessels (as de- fined in subsection (k)(1)) may enter into an agreement with the Secretary of Transpor- tation under, and as provided in, this section to establish a capital construction fund (hereinafter in this section referred to as the ‘‘fund’’) with respect to any or all of such vessels. Any agreement entered into under this section shall be for the purpose of pro- viding replacement vessels, additional ves- sels, or reconstructed vessels, built in the United States and documented under the laws of the United States for operation in the United States foreign, Great Lakes, or noncontiguous domestic trade or in the fish- eries of the United States and shall provide for the deposit in the fund of the amounts agreed upon as necessary or appropriate to provide for qualified withdrawals under sub- section (f). The deposits in the fund, and all withdrawals from the fund, whether qualified or nonqualified, shall be su