46 U.S.C. § 57304

Verified against govinfo.gov as of June 20, 2026View official text on govinfo.gov ↗

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.