46 U.S.C. § 53906
Hull insurance valuation
United States · Title 46 — SHIPPING · Status: effective
Cite this
- Citation
- 46 U.S.C. § 53906, Hull insurance valuation, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/488322
- Permanent ID
ys:prov:488322@1- SHA-256
4637b696feac6d8ccc45f72274ee813406f785aea4fb0de990426aea85e3e164
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Full text
The valuation in a hull insurance policy for actual or constructive total loss of the insured vessel shall be a stated valuation determined by the Secretary of Transportation. The stated valuation—
If a vessel is actually or constructively totally lost and the insured under a policy referred to in subsection (a) has not rejected the stated valuation determined by the Secretary, the amount of a claim adjusted, compromised, settled, adjudged, or paid may not exceed the stated valuation. However, if the insured has rejected the valuation, the insured—
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