[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: 46CFR68.05-5]

[Page 383]
 
                           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 68.05_Documentation of Certain Vessels for Oil Spill Cleanup
 
Sec. 68.05-5  Citizenship requirements for limited coastwise endorsement.

    (a) Notwithstanding the citizenship requirements set out in part 67 
of this chapter, a Certificate of Documentation with a coastwise 
endorsement for the limited purposes provided in Sec. 68.05-9 may be 
issued to a vessel owned by--
    (1) A not-for-profit oil spill response cooperative if the vessel 
meets the requirements of paragraph (b) of this section; or
    (2) A member or members of a not-for-profit oil spill response 
cooperative if the vessel meets the requirements of paragraphs (b) and 
(c) of this section.
    (b) The vessel must be at least 50 percent owned by one or more of 
the following entities:
    (1) An individual who is a native-born, naturalized or derivative 
citizen of the United States or otherwise qualifies as a United States 
citizen.
    (2) A corporation incorporated under the laws of the United States 
or of a State where--
    (i) The president and, if the president is not the chief executive 
officer, the chief executive officer, by whatever title, is a citizen;
    (ii) The chairman of the board of directors is a citizen; and
    (iii) No more of the directors are non-citizens than a minority of 
the number necessary to constitute a quorum.
    (3) A partnership where all the general partners are citizens and at 
least 50 percent of the equity interest is owned by citizens.
    (4) An association or joint venture where all the members are 
citizens.
    (5) A trust where all the trustees and all the beneficiaries with an 
enforceable interest in the trust are citizens.
    (c) The vessel must be owned by a member or members of a not-for-
profit oil spill response cooperative who dedicate the vessel to the use 
of a not-for-profit oil spill response cooperative.
    (d) A vessel which meets the criteria of this section is considered 
to be owned exclusively by citizens of the United States for the 
purposes of subsequent transfer and documentation under part 67 of this 
chapter.