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46 U.S.C. § 53512

Title 46 Chapter 535 Current through PL 116-220 ~1 min read Last updated: March 30, 2026 View on OLRC →
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§ 53512. FIFO and LIFO withdrawals

  • (a) Except as provided in subsection (b), an amount withdrawn from an account under this chapter shall be treated as withdrawn on a first-in-first-out basis.
  • (b) An amount withdrawn from an account under this chapter shall be treated as withdrawn on a last-in-first-out basis if it is—
    • (1) a nonqualified withdrawal for research, development, and design expenses incident to new and advanced vessel design, machinery, and equipment; or
    • (2) an amount treated as a nonqualified withdrawal under section 53510(d) of this title .

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