{"identifier":"/us/usc/t46/s31323","title":46,"num":"\u00a7\u202f31323.","heading":"Disclosing and incurring obligations before executing preferred mortgages","text":"\u00a7\u202f31323.\nDisclosing and incurring obligations before executing preferred mortgages\n(a) On request of the mortgagee and before executing a preferred mortgage, the mortgagor shall disclose in writing to the mortgagee the existence of any obligation known to the mortgagor on the vessel to be mortgaged.\n(b) After executing a preferred mortgage and before the mortgagee has had a reasonable time to file the mortgage, the mortgagor may not incur, without the consent of the mortgagee, any contractual obligation establishing a lien on the vessel except a lien for\u2014\n(1) wages of a stevedore when employed directly by a person listed in\nsection 31341 of this title\n(2) wages for the crew of the vessel;\n(3) general average; or\n(4) salvage, including contract salvage.\n(c) On conviction of a mortgagor under section 31330(a)(1)(A) or (B) of this title for violating this section, the mortgage indebtedness, at the option of the mortgagee, is payable immediately.","url":"https://projectusc.org/usc/t46/s31323.html","content":[{"t":"sec","id":"/us/usc/t46/s31323","children":[{"t":"num","text":"\u00a7\u202f31323."},{"t":"heading","text":"Disclosing and incurring obligations before executing preferred mortgages"},{"t":"subsec","id":"/us/usc/t46/s31323/a","children":[{"t":"num","text":"(a)"},{"t":"content","text":" On request of the mortgagee and before executing a preferred mortgage, the mortgagor shall disclose in writing to the mortgagee the existence of any obligation known to the mortgagor on the vessel to be mortgaged.","tail":"\n"}],"tail":"\n"},{"t":"subsec","id":"/us/usc/t46/s31323/b","children":[{"t":"num","text":"(b)"},{"t":"chapeau","text":" After executing a preferred mortgage and before the mortgagee has had a reasonable time to file the mortgage, the mortgagor may not incur, without the consent of the mortgagee, any contractual obligation establishing a lien on the vessel except a lien for\u2014"},{"t":"para","id":"/us/usc/t46/s31323/b/1","children":[{"t":"num","text":"(1)"},{"t":"content","text":" wages of a stevedore when employed directly by a person listed in ","children":[{"t":"ref","text":"section 31341 of this title","href":"/us/usc/t46/s31341","tail":";"}],"tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t46/s31323/b/2","children":[{"t":"num","text":"(2)"},{"t":"content","text":" wages for the crew of the vessel;","tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t46/s31323/b/3","children":[{"t":"num","text":"(3)"},{"t":"content","text":" general average; or","tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t46/s31323/b/4","children":[{"t":"num","text":"(4)"},{"t":"content","text":" salvage, including contract salvage.","tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"subsec","id":"/us/usc/t46/s31323/c","children":[{"t":"num","text":"(c)"},{"t":"content","text":" On conviction of a mortgagor under section 31330(a)(1)(A) or (B) of this title for violating this section, the mortgage indebtedness, at the option of the mortgagee, is payable immediately.","tail":"\n"}],"tail":"\n"},{"t":"text","text":"\n"},{"t":"text","text":"\n"}]}]}