§ 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.