A construction reserve fund may be established by a citizen of the United States that-
(1) is operating a vessel in the foreign or domestic commerce of the United States or in the fisheries;
(2) owns, in whole or in part, a vessel being operated in the foreign or domestic commerce of the United States or in the fisheries;
(3) was operating a vessel in the foreign or domestic commerce of the United States or in the fisheries when it was bought or requisitioned by the United States Government;
(4) owned, in whole or in part, a vessel being operated in the foreign or domestic commerce of the United States or in the fisheries when it was bought or requisitioned by the Government; or
(5) had acquired or was having constructed a vessel to operate in the foreign or domestic commerce of the United States or in the fisheries when it was bought or requisitioned by the Government.
(
| Revised Section | Source (U.S. Code) | Source (Statutes at Large) |
|---|---|---|
| 53303 | 46 App.:1161(b) (1st sentence words between 6th and 10th commas). | June 29, 1936, ch. 858, title V, §511(b) (1st sentence words between 6th and 10th commas), as added Oct. 10, 1940, ch. 849, |