Regulations last checked for updates: Nov 22, 2024

Title 46 - Shipping last revised: Nov 04, 2024
All TitlesTitle 46Chapter IVPart 540Subpart A - Subpart A—Proof of Financial Responsibility, Bonding and Certification of Financial Responsibility for Indemnification of Passengers for Nonperformance of Transportation
View all text of Subpart A [§ 540.1 - § 540.9]
§ 540.7 - Evidence of financial responsibility.

Where satisfactory proof of financial responsibility has been established:

(a) A Certificate (Performance) covering specified vessels shall be issued evidencing the Commission's finding of adequate financial responsibility to indemnify passengers for nonperformance of water transportation.

(b) The period covered by the Certificate (Performance) shall be five (5) years, unless another termination date has been specified thereon.

[78 FR 13278, Feb. 27, 2013]
authority: 5 U.S.C. 552,553; 31 U.S.C. 9701; 46 U.S.C., 44101-44106, 46105
source: 49 FR 36313, Sept. 14, 1984, unless otherwise noted.
cite as: 46 CFR 540.7
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