Lawzonline.com

 

 

 


 Home>>Bare Acts>>Back to Index

 

 

47. Mortgage of ship or share.- (1) A registered ship or a share therein may be made a security for a loan or other valuable consideration, and the instrument creating the security (in this Act called a mortgage) shall be in the prescribed form or as near thwart as circumstances permit and on the production of such instrument the registrar of the ship's port of registry shall record it in the register book.

(2) Mortgages shall be recorded by the registrar in the order in time in which they are produced to him for that purpose, and the registrar shall, by memorandum under his hand, notify on each mortgagee that it has been recorded by him stating the day and hour of that record.

 

 

 

 

Central Bare Acts
State Bare Acts

  

 

 

 


Home | Law Dictionary | Law Schools | Law Digest | Bare Acts | Disclaimer |  Privacy Policy


  
  
 

 

 

Copy right : Indu Info (All rights reserved)