---
kind: "section"
citation: "46 U.S.C. § 53504"
title: "46"
title_heading: "Shipping"
number: "53504"
heading: "Deposits and withdrawals"
release: "119-102"
date: "2026-07-12"
url: "https://uscodex.org/usc/46/53504"
units:
  - "Subtitle V — Merchant Marine"
  - "Part C — Financial Assistance Programs"
  - "Chapter 535 — Capital Construction Funds"
---

# §53504. Deposits and withdrawals

- (a) **Required Deposits.—** An [agreement](/usc/46/53201.md?p=8) to establish a capital [construction](/usc/46/53701.md?p=3) fund shall provide for the deposit in the fund of the amounts agreed to be appropriate to provide for qualified withdrawals under [section 53509 of this title](/usc/46/53509.md).
- (b) **Applicable Requirements.—** Deposits in and withdrawals from the fund are subject to the requirements included in the [agreement](/usc/46/53201.md?p=8) or prescribed by the [Secretary](/usc/46/53101.md?p=8) by regulation. However, the [Secretary](/usc/46/53101.md?p=8) may not require a [person](/usc/46/53101.md?p=6) to deposit in the fund for a taxable year more than 50 percent of that portion of the [person](/usc/46/53101.md?p=6)’s taxable income for that year (as determined under [section 53505(a)(1) of this title](/usc/46/53505.md?p=a-1)) that is attributable to the operation of an [agreement vessel](/usc/46/53501.md?p=1).

## Source credit

(Pub. L. 109–304, § 8(c), Oct. 6, 2006, 120 Stat. 1593.)

## Notes

| Historical and Revision Notes |  |  |
| --- | --- | --- |
| Revised<br>Section | Source (U.S. Code) | Source (Statutes at Large) |
| 53504(a) | 46 App.:1177(a) (2d sentence related to deposits). | June 29, 1936, ch. 858, title VI, § 607(a) (2d sentence related to deposits), (last sentence), 49 Stat. 2005; June 23, 1938, ch. 600, §§ 23–28, 52 Stat. 960; Aug. 4, 1939, ch. 417, § 10, 53 Stat. 1185; July 17, 1952, ch. 939, §§ 17–19, 66 Stat. 764; Pub. L. 85–637, Aug. 14, 1958, 72 Stat. 216; Pub. L. 86–518, § 1, June 12, 1960, 74 Stat. 216; Pub. L. 87–45, § 6, May 27, 1961, 75 Stat. 91; Pub. L. 87–271, Sept. 21, 1961, 75 Stat. 570; restated Pub. L. 91–469, § 21(a), Oct. 21, 1970, 84 Stat. 1026; Pub. L. 97–31, § 12(97)(A), Aug. 6, 1981, 95 Stat. 162. |
| 53504(b) | 46 App.:1177(a) (last sentence). |  |

In subsection (a), the words “agreed to be appropriate” are substituted for “agreed upon as necessary or appropriate” to eliminate unnecessary words.