For a corporation to be eligible to register a vessel under the national flag, its chief executive officer, chairman of the board of directors and a majority of the directors must be citizens of the United States.
"§12102. Vessels requiring documentation
(a) In General.—Except as otherwise provided, a vessel may engage in a trade only if the vessel has been issued a certificate of documentation with an endorsement for that trade under this chapter.
(b) Vessels Less Than 5 Net Tons.—A vessel of less than 5 net tons may engage in a trade without being documented if the vessel otherwise satisfies the requirements to engage in the particular trade.
(c) Barges.—A barge qualified to engage in the coastwise trade may engage in the coastwise trade, without being documented, on rivers, harbors, lakes (except the Great Lakes), canals, and inland waters.
[...]
§12103. General eligibility requirements
(a) In General.-Except as otherwise provided, a certificate of documentation for a vessel may be issued under this chapter only if the vessel is-
(1) wholly owned by one or more individuals or entities described in subsection (b);
(2) at least 5 net tons as measured under part J of this subtitle; and
(3) not documented under the laws of a foreign country.
(b) Eligible Owners.-For purposes of subsection (a)(1), the following are eligible owners:
(1) An individual who is a citizen of the United States.
(2) An association, trust, joint venture, or other entity if-
(A) each of its members is a citizen of the United States; and
(B) it is capable of holding title to a vessel under the laws of the United States or a State.
(3) A partnership if-
(A) each general partner is a citizen of the United States; and
(B) the controlling interest in the partnership is owned by citizens of the United States.
(4) A corporation if-
(A) it is incorporated under the laws of the United States or a State;
(B) its chief executive officer, by whatever title, and the chairman of its board of directors are citizens of the United States; and
(C) no more of its directors are noncitizens than a minority of the number necessary to constitute a quorum.
(5) The United States Government.
(6) The government of a State.
[...]
§50501. Entities deemed citizens of the United States
(a) In General.-In this subtitle [Subtitle V-Merchant Marine], a corporation, partnership, or association is deemed to be a citizen of the United States only if the controlling interest is owned by citizens of the United States. However, if the corporation, partnership, or association is operating a vessel in the coastwise trade, at least 75 percent of the interest must be owned by citizens of the United States.
(b) Additional Requirements for Corporations.-In this subtitle, a corporation is deemed to be a citizen of the United States only if, in addition to satisfying the requirements in subsection (a)-
(1) it is incorporated under the laws of the United States or a State;
(2) its chief executive officer, by whatever title, and the chairman of its board of directors are citizens of the United States; and
(3) no more of its directors are noncitizens than a minority of the number necessary to constitute a quorum.
(c) Determination of Controlling Corporate Interest.-The controlling interest in a corporation is owned by citizens of the United States under subsection (a) only if-
(1) title to the majority of the stock in the corporation is vested in citizens of the United States free from any trust or fiduciary obligation in favor of a person not a citizen of the United States;
(2) the majority of the voting power in the corporation is vested in citizens of the United States;
(3) there is no contract or understanding by which the majority of the voting power in the corporation may be exercised, directly or indirectly, in behalf of a person not a citizen of the United States; and
(4) there is no other means by which control of the corporation is given to or permitted to be exercised by a person not a citizen of the United States.
(d) Determination of 75 Percent Corporate Interest.-At least 75 percent of the interest in a corporation is owned by citizens of the United States under subsection (a) only if-
(1) title to at least 75 percent of the stock in the corporation is vested in citizens of the United States free from any trust or fiduciary obligation in favor of a person not a citizen of the United States;
(2) at least 75 percent of the voting power in the corporation is vested in citizens of the United States;
(3) there is no contract or understanding by which more than 25 percent of the voting power in the corporation may be exercised, directly or indirectly, in behalf of a person not a citizen of the United States; and
(4) there is no other means by which control of more than 25 percent of any interest in the corporation is given to or permitted to be exercised by a person not a citizen of the United States.
§55102. Transportation of merchandise [...]
(b) Requirements.-Except as otherwise provided in this chapter or chapter 121 of this title, a vessel may not provide any part of the transportation of merchandise by water, or by land and water, between points in the United States to which the coastwise laws apply, either directly or via a foreign port, unless the vessel-
(1) is wholly owned by citizens of the United States for purposes of engaging in the coastwise trade; and
(2) has been issued a certificate of documentation with a coastwise endorsement under chapter 121 or is exempt from documentation but would otherwise be eligible for such a certificate and endorsement.
[...]
§55103. Transportation of passengers
(a) In General.—Except as otherwise provided in this chapter or chapter 121 of this title, a vessel may not transport passengers between ports or places in the United States to which the coastwise laws apply, either directly or via a foreign port, unless the vessel—
(1) is wholly owned by citizens of the United States for purposes of engaging in the coastwise trade; and
(2) has been issued a certificate of documentation with a coastwise endorsement under chapter 121 or is exempt from documentation but would otherwise be eligible for such a certificate and endorsement. [...]" (Shipping Code (46 U.S.C. current through Pub. L. 117-49), §§ 12102, 12103, 50501, 55102 and 55103)
Shipping Code (46 U.S.C. current through Pub. L. 117-49), §§ 12102, 12103, 50501, 55102 and 55103
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