CFR > Title 46 - Shipping > CHAPTER IV—FEDERAL MARITIME COMMISSION > SUBCHAPTER B—REGULATIONS AFFECTING OCEAN SHIPPING IN FOREIGN COMMERCE (parts 515 to 545) > PART 540—PASSENGER VESSEL FINANCIAL RESPONSIBILITY > SUBPART A—Proof of Financial Responsibility, Bonding and Certification of Financial Responsibility for Indemnification of Passengers for Nonperformance of Transportation (§540.1 to §5 > 540.7—Evidence of financial responsibility.

540.7—Evidence of financial responsibility.

Where satisfactory proof of financial responsibility has been given or a satisfactory bond has been provided, a Certificate (Performance) covering specified vessels shall be issued evidencing the Commission's finding of adequate financial responsibility to indemnify passengers for nonperformance of water transportation. The period covered by the Certificate (Performance) shall be indeterminate, unless a termination date has been specified thereon.