---
kind: "section"
citation: "46 U.S.C. § 57112"
title: "46"
title_heading: "Shipping"
number: "57112"
heading: "Requirements for purchasing federally auctioned vessels"
release: "119-102"
date: "2026-07-12"
url: "https://uscodex.org/usc/46/57112"
units:
  - "Subtitle V — Merchant Marine"
  - "Part F — Government-Owned Merchant Vessels"
  - "Chapter 571 — General Authority"
---

# §57112. Requirements for purchasing federally auctioned vessels

- (a) **In General.—** To be eligible to purchase a covered [vessel](/usc/46/53501.md?p=9) from the Federal Government, a [person](/usc/46/53101.md?p=6) shall provide proof of—
  - (1) liability insurance for the operator of such covered [vessel](/usc/46/53501.md?p=9);
  - (2) financial resources sufficient to cover maintenance costs of such covered [vessel](/usc/46/53501.md?p=9); and
  - (3) with respect to a covered [vessel](/usc/46/53501.md?p=9) requiring documentation under [chapter 121](/usc/46/chstII/ptH/ch121.md), an admiralty bond or stipulation.
- (b) **Covered Vessel Defined.—** In this section, the term “covered [vessel](/usc/46/53501.md?p=9)” means—
  - (1) a government owned [vessel](/usc/46/53501.md?p=9) disposed of in accordance with this part and [section 548 of title 40](/usc/40/548.md);
  - (2) a [vessel](/usc/46/53501.md?p=9) seized or forfeited pursuant to any law, and auctioned by the Federal Government, including a [vessel](/usc/46/53501.md?p=9) seized or forfeited pursuant to section 7301 or 7302 of the Internal Revenue Code of 1986; or
  - (3) a [fishing vessel](/usc/46/53701.md?p=6) seized or forfeited pursuant to section 310 of the Magnuson-Stevens Fishery Conservation and Management Act ([16 U.S.C. 1860](/usc/16/1860.md)).

## Source credit

(Added Pub. L. 118–159, div. C, title XXXV, § 3532(a), Dec. 23, 2024, 138 Stat. 2312.)

## Notes

### Editorial Notes

### References in Text

Sections 7301 and 7302 of the Internal Revenue Code of 1986, referred to in subsec. (b)(2), are classified to sections 7301 and 7302, respectively, of Title 26, Internal Revenue Code.