§ 53303. Persons eligible to establish funds
A construction reserve fund may be established by a citizen of the United States that—
(1)
is operating a vessel in the foreign or domestic commerce of the United States or in the fisheries;
(2)
owns, in whole or in part, a vessel being operated in the foreign or domestic commerce of the United States or in the fisheries;
(3)
was operating a vessel in the foreign or domestic commerce of the United States or in the fisheries when it was bought or requisitioned by the United States Government;
(4)
owned, in whole or in part, a vessel being operated in the foreign or domestic commerce of the United States or in the fisheries when it was bought or requisitioned by the Government; or
(5)
had acquired or was having constructed a vessel to operate in the foreign or domestic commerce of the United States or in the fisheries when it was bought or requisitioned by the Government.