(a)
(1) is a non-profit organization, a State, or a municipal corporation or political subdivision of a State;
(2) agrees not to use, or allow others to use, the vessel for commercial transportation purposes;
(3) agrees to make the vessel available to the Government whenever the Secretary indicates that it is needed by the Government;
(4) agrees to hold the Government harmless for any claims arising from exposure to asbestos, polychlorinated biphenyls, lead paint, or other hazardous substances after conveyance of the vessel, except for claims arising from use of the vessel by the Government;
(5) has a conveyance plan and a business plan that describes the intended use of the vessel, each of which has been submitted to and approved by the Secretary;
(6) has provided proof, as determined by the Secretary, of resources sufficient to accomplish the transfer, necessary repairs and modifications, and initiation of the intended use of the vessel; and
(7) agrees that when the recipient no longer requires the vessel for use as described in the business plan required under paragraph (5)-
(A) the recipient will, at the discretion of the Secretary, reconvey the vessel to the Government in good condition except for ordinary wear and tear; or
(B) if the Board of Trustees of the recipient has decided to dissolve the recipient according to the laws of the State in which the recipient is incorporated, then-
(i) the recipient shall distribute the vessel, as an asset of the recipient, to a person that has been determined exempt from taxation under section 501(c)(3) of the Internal Revenue Code of 1986 (26 U.S.C. 501(c)(3)), or to the Federal Government or a State or local government for a public purpose; and
(ii) the vessel shall be disposed of by a court of competent jurisdiction of the county in which the principal office of the recipient is located, for such purposes as the court shall determine, or to such organizations as the court shall determine are organized exclusively for public purposes.
(b)
(c)
(d)
(e)
(f)
(
| Revised Section | Source (U.S. Code) | Source (Statutes at Large) |
|---|---|---|
| 57103 | 46 App.:1158(b). | June 29, 1936, ch. 858, title V, §508(b), as added
|
In subsection (a), before paragraph (1), the words "Notwithstanding section 1160(j) of this title" are omitted as unnecessary because section 46 App. U.S.C. 1160(j) is restated in section 57101 of the revised title and that section contains an exception which includes this section. In paragraph (1), the words "Commonwealth, or possession of the United States" and "or the District of Columbia" are omitted as unnecessary because of the definition of "State" in chapter 1 of the revised title.
2012-