[Code of Federal Regulations]
[Title 46, Volume 2]
[Revised as of October 1, 2004]
From the U.S. Government Printing Office via GPO Access
[CITE: 46CFR68.01-3]

[Page 379]
 
                           TITLE 46--SHIPPING
 
   CHAPTER I--COAST GUARD, DEPARTMENT OF HOMELAND SECURITY (CONTINUED)
 
PART 68_DOCUMENTATION OF VESSELS PURSUANT TO EXTRAORDINARY LEGISLATIVE 
GRANTS--Table of Contents
 
  Subpart 68.01_Regulations Implementing Provisions for 46 U.S.C. App. 
                                  883-1
 
Sec. 68.01-3  Requirements for citizenship under 46 U.S.C. App. 883-1.

    A corporation seeking to establish its citizenship under the Act of 
September 2, 1958 (46 U.S.C. App. 883-1) must meet the following 
criteria as specified in the Act:
    (a) It must be incorporated under the laws of the United States, or 
any state, territory, district, or possession of the United States;
    (b) A majority of the officers and directors of the corporation must 
be citizens of the United States;
    (c) Not less than 90 percent of the employees of the corporation 
must be residents of the United States;
    (d) Such corporation must be engaged primarily in a manufacturing or 
mineral industry in the United States or any territory, district, or 
possession of the United States;
    (e) The aggregate book value of the vessels owned by the corporation 
must not exceed 10 percent of the aggregate book value of the assets of 
the corporation; and
    (f) The corporation must purchase or produce in the United States, 
its territories or possessions, not less than 75 percent of the raw 
materials used or sold in its operations.

    Note: A corporation which qualifies as an 883-1 citizen by meeting 
the criteria in paragraph (a) of this section is not thereby precluded 
from qualifying as a citizen under any definition in part 67 upon 
compliance with all applicable requirements.

[CGD 80-107, 47 FR 27494, June 24, 1982, as amended at 47 FR 35488, Aug. 
16, 1982; CGD 95-028, 62 FR 51203, Sept. 30, 1997]