Obsolete Vessel Law and Legal Definition

According to 46 USCS § 57301 [Title 46. Shipping; Subtitle V. Merchant Marine; Part F. Government-Owned Merchant Vessels; Chapter 573. Vessel Trade-In Program], obsolete vessel means a vessel that

(A) is of at least 1,350 gross tons;

(B) the Secretary of Transportation believes should, because of its age, obsolescence, or other reasons, be replaced in the public interest; and

(C) has been owned by a citizen of the United States for at least 3 years immediately before its acquisition.