---
kind: "section"
citation: "46 C.F.R. § 67.39"
title: "46"
number: "67.39"
heading: "Corporation."
url: "https://uscodex.org/cfr/46/67.39"
---

# §67.39. Corporation.

- (a) For the purpose of obtaining a registry or a recreational endorsement, a corporation meets citizenship requirements if:
  - (1) It is incorporated under the laws of the United States or of a State;
  - (2) Its chief executive officer, by whatever title, is a citizen;
  - (3) Its chairman of the board of directors is a citizen; and
  - (4) No more of its directors are non-citizens than a minority of the number necessary to constitute a quorum.
- (b) **For the purpose of obtaining a fishery endorsement, a corporation meets citizenship requirements if—**
  - (1) It meets all the requirements of [paragraph (a)](#a) of this section; and
  - (2) At least 75 percent of the stock interest in the corporation, at each tier of the corporation and in the aggregate, is owned by citizens.
- (c) **For the purpose of obtaining a coastwise endorsement a corporation meets citizenship requirements if—**
  - (1) It meets the requirements of [paragraph (a)](#a) of this section and at least 75 percent of the stock interest in the corporation is owned by citizens; or
  - (2) It meets the requirements of [§ 68.60](/cfr/46/68.60.md) or [§ 68.105](/cfr/46/68.105.md) of this chapter.
- (d) A corporation which does not meet the stock interest requirement of [paragraph (c)](#c) of this section may qualify for limited coastwise trading privileges by meeting the requirements of [part 68](/cfr/46/part68.md) of this chapter.

## Notes

### Amendments

[CGD 89-007, CGD 89-007a, 58 FR 60266, Nov. 15, 1993, as amended by CGD 94-008, 59 FR 49847, Sept. 30, 1994; USCG-1999-6095, 65 FR 76576, Dec. 7, 2000; USCG-2001-8825, 69 FR 5401, Feb. 4, 2004; USCG-2005-20258, 71 FR 61417, Oct. 18, 2006; USCG-2009-0702, 74 FR 49230, Sept. 25, 2009]

### Authority

Authority: 14 U.S.C. 664; 31 U.S.C. 9701; 42 U.S.C. 9118; 46 U.S.C. 2103, 2104, 2107, 12102, 12103, 12104, 12105, 12106, 12113, 12133, 12139; DHS Delegation 00170.1, Revision No. 01.4.

### Source

Source: CGD 89-007, CGD 89-007a, 58 FR 60266, Nov. 15, 1993, unless otherwise noted.

### Amendments

[CGD 89-007, CGD 89-007a, 58 FR 60266, Nov. 15, 1993, as amended by CGD 94-008, 59 FR 49847, Sept. 30, 1994; USCG-1999-6095, 65 FR 76576, Dec. 7, 2000; USCG-2001-8825, 69 FR 5401, Feb. 4, 2004; USCG-2005-20258, 71 FR 61417, Oct. 18, 2006; USCG-2009-0702, 74 FR 49230, Sept. 25, 2009]