46 U.S.C. § 53721
Rights of obligee
United States · Title 46 — SHIPPING · Status: effective
Cite this
- Citation
- 46 U.S.C. § 53721, Rights of obligee, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/488305
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Full text
Except as provided in subsection (c), if an obligor has continued in default for 30 days in the payment of principal or interest on an obligation guaranteed under this chapter, the obligee or the obligee’s agent may demand that the Secretary or Administrator pay the unpaid principal amount of the obligation and the unpaid interest on the obligation to the date of payment. The demand must be made within the earlier of—
If a demand is made under subsection (a), the Secretary or Administrator shall pay to the obligee or the obligee’s agent the unpaid principal amount of the obligation and the unpaid interest on the obligation to the date of payment. Payment shall be made within the earlier of—
Legislative history
The public laws that enacted or amended this section. Tallies are for the whole bill as it passed each chamber — often an omnibus covering far more than this provision — not a vote on this section alone.
- To complete the codification of title 46, United States Code, "Shipping", as positive law.House: no recorded tallySenate: no recorded tally
- National Defense Authorization Act for Fiscal Year 2006House: 374–41Senate: no recorded tally
- National Defense Authorization Act for Fiscal Year 2008