---
kind: "section"
citation: "46 U.S.C. § 57304"
title: "46"
title_heading: "Shipping"
number: "57304"
heading: "Eligible acquisition dates"
release: "119-102"
date: "2026-07-12"
url: "https://uscodex.org/usc/46/57304"
units:
  - "Subtitle V — Merchant Marine"
  - "Part F — Government-Owned Merchant Vessels"
  - "Chapter 573 — Vessel Trade-In Program"
---

# §57304. Eligible acquisition dates


At the option of the owner, the acquisition of an [obsolete vessel](/usc/46/57301.md?p=2) under this chapter shall occur—

- (1) when the owner contracts for the [construction](/usc/46/53701.md?p=3) or purchase of a [new vessel](/usc/46/53301.md?p=a-2); or
- (2) within 5 days of the actual date of delivery of the [new vessel](/usc/46/53301.md?p=a-2) to the owner.

## Source credit

(Pub. L. 109–304, § 8(c), Oct. 6, 2006, 120 Stat. 1662.)

## Notes

| Historical and Revision Notes |  |  |
| --- | --- | --- |
| Revised<br>Section | Source (U.S. Code) | Source (Statutes at Large) |
| 57304 | 46 App.:1160(b) (2d sentence). | June 29, 1936, ch. 858, title V, § 510(b) (2d sentence), as added Aug. 4, 1939, ch. 417, § 7, 53 Stat. 1184; Pub. L. 87–401, subdiv. (1), Oct. 5, 1961, 75 Stat. 833; Pub. L. 91–469, § 35(a), Oct. 21, 1970, 84 Stat. 1035; Pub. L. 97–31, § 12(91), Aug. 6, 1981, 95 Stat. 161. |

The words “At the option of the owner” are substituted for “if the owner so requests” for clarity.