
From the U.S. Code Online via GPO Access
[wais.access.gpo.gov]
[Laws in effect as of January 23, 2000]
[Document not affected by Public Laws enacted between
  January 23, 2000 and December 4, 2001]
[CITE: 46USC31327]

 
                           TITLE 46--SHIPPING
 
                    Subtitle III--Maritime Liability
 
         CHAPTER 313--COMMERCIAL INSTRUMENTS AND MARITIME LIENS
 
                  SUBCHAPTER II--COMMERCIAL INSTRUMENTS
 
Sec. 31327. Forfeiture of mortgagee interest

    The interest of a mortgagee in a documented vessel or a vessel 
covered by a preferred mortgage under section 31322(d) of this title may 
be terminated by a forfeiture of the vessel for a violation of a law of 
the United States only if the mortgagee authorized, consented, or 
conspired to do the act, failure, or omission that is the basis of the 
violation.

(Pub. L. 100-710, title I, Sec. 102(c), Nov. 23, 1988, 102 Stat. 4746.)

                      Historical and Revision Notes
------------------------------------------------------------------------
          Revised section                Source section (U.S. Code)
------------------------------------------------------------------------
31327.............................  46:961(b)
------------------------------------------------------------------------

    Section 31327 provides for forfeiture of the mortgagee's interest if 
the mortgagee authorized, consented, or conspired to do the act, 
failure, or omission that is the basis of the violation that caused 
forfeiture of the vessel. This section makes no substantive change to 
law.
