46 CFR 309.8 Vessel data forms

Maritime Administration, DOT

§ 309.101

in all respects fit for service. The stated valuation of a vessel in substandard
condition is subject to downward adjustment as provided in § 309.6(a).
§ 309.6 Adjustments
equipment, and
ations.

for
condition,
other consider-

(a) Adjustment for a vessel in substandard condition. If the Maritime Administration determines that a vessel
is in substandard condition from that
assumed by the Committee as provided
in § 309.5, there shall be subtracted
from the stated valuation of such vessel an amount estimated by the Maritime Administration as the cost of putting the vessel in the condition assumed by the Committee when determining its stated valuation.
(b) Special equipment. If the depreciated reproduction cost less construction subsidy, if any, of any special
equipment of material utility in the
handling of cargo or utilization of a
vessel, not otherwise taken into account in determining the stated valuation of such vessel, is in excess of
$50,000, an amount estimated by the
Maritime Administration as the fair
and reasonable value of such equipment shall be added to the stated valuation of such vessel.
(c) Government installations. A stated
valuation determined pursuant to this
part shall not include any allowance
for any special installations or equipment to the extent that their cost was
borne by the United States.
§ 309.7

Modifications.

The Maritime Administration reserves the right to exempt any vessel
from the scope of this part, or to
amend, modify, or terminate the provisions hereof.

kpayne on VMOFRWIN702 with $$_JOB

§ 309.8

Vessel data forms.

(a) To accompany application for insurance. Each application for war risk insurance, submitted in accordance with
§ 308.3 of this chapter, shall be accompanied by a completed Form MA–828,
Vessel Data. Copies of this form may
be obtained from either the American
War Risk Agency, 14 Wall Street, New
York, N.Y. 10005, or the Director, Office
of Marine Insurance (MAR–540) Mari-

time
Administration
400
Seventh
Street SW., Washington, DC 20590.
(b) Modification to vessels. Revised
vessel data shall be submitted on the
appropriate form prescribed in paragraph (a) of this section whenever a
vessel undergoes a physical change
which increases or decreases its value
by five percent or more.
(Approved by the Office of Management and
Budget under control number 2133–0011)
[39 FR 30487, Aug. 23, 1974, as amended at 47
FR 25330, June 14, 1982; 50 FR 50167, Dec. 9,
1985]

§ 309.101
ers.

Amendment of interim bind-

The interim binder for a vessel whose
stated valuation is established pursuant to this part shall be deemed to
have been amended on the first day of
the effective period of such valuation,
as provided in the notice publishing
such valuation, by inserting in the
space provided therefor, or in substitution for any value appearing in such
space, the stated valuation of the vessel set forth in such notice. A stated
valuation shall apply with respect to
insurance attaching during the effective period of such valuation; Provided,
however, That if there is a substantial
change in market values during such
period, the Maritime Administration
reserves the right to revise the valuations provided for therein at any time
during said period; And provided further, That the assured shall have the
right within 60 days after the date of
publication of a stated valuation or
within 60 days after the attachment of
the insurance under the interim binder
to which such valuation applies, whichever is later, to reject such valuation
and proceed as authorized by section
1209(a)(2), Merchant Marine Act, 1936,
as amended (46 U.S.C. 1289(a)(2)).
STORES AND SUPPLIES
AUTHORITY: Sec. 204, 49 Stat. 1987, as
amended, sec. 1209, 64 Stat. 775, as amended,
70 Stat. 984; 46 U.S.C. 1114, 1289.
SOURCE: Sections 309.201 through 309.204
contained in G.O. 100, 29 FR 2944, Mar. 4, 1964;
29 FR 3706, Mar. 25, 1964, unless otherwise
noted.

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