46 U.S.C. § 12107 - Wrecked vessels

46 USC 12107 - Wrecked vessels

(a) Requirements.— 
A vessel is a wrecked vessel under this chapter if it
(1) was wrecked on a coast of the United States or adjacent waters; and
(2) has undergone repairs in a shipyard in the United States equal to at least 3 times the appraised salvage value of the vessel.
(b) Appraisals.— 
The Secretary may appoint a board of three appraisers to determine whether a vessel satisfies subsection (a)(2). The costs of the appraisal shall be paid by the owner of the vessel.

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