
From the U.S. Code Online via GPO Access
[wais.access.gpo.gov]
[Laws in effect as of January 2, 2001]
[Document not affected by Public Laws enacted between
  January 2, 2001 and January 28, 2002]
[CITE: 10USC7362]

 
                         TITLE 10--ARMED FORCES
 
                    Subtitle C--Navy and Marine Corps
 
                     PART IV--GENERAL ADMINISTRATION
 
                     CHAPTER 637--SALVAGE FACILITIES
 
Sec. 7362. Acquisition and transfer of vessels and equipment

    (a) Authority.--The Secretary of the Navy may acquire or transfer 
for operation by private salvage companies such vessels and equipment as 
the Secretary considers necessary.
    (b) Agreement on Use.--Before any salvage vessel or salvage gear is 
transferred by the Secretary to a private party, the private party must 
agree in writing with the Secretary that the vessel or gear will be used 
to support organized offshore salvage facilities for a period of as many 
years as the Secretary considers appropriate.
    (c) Reference to Authority To Advance Funds for Immediate Salvage 
Operations.--For authority for the Secretary of the Navy to advance to 
private salvage companies such funds as the Secretary considers 
necessary to provide for the immediate financing of salvage operations, 
see section 2307(g)(2) of this title.

(Added Pub. L. 104-106, div. A, title X, Sec. 1015, Feb. 10, 1996, 110 
Stat. 424.)


                            Prior Provisions

    A prior section 7362, act Aug. 10, 1956, ch. 1041, 70A Stat. 455, 
related to commercial use of naval facilities, prior to the general 
amendment of this chapter by Pub. L. 104-106.
