# 33 C.F.R. § 138.40 (2026): General requirements

> Federal · Regulations · In force

URL: https://www.frixlaw.com/law-library/statutes/CFR_T33_P138_S138_40

## Section

- **Citation:** 33 C.F.R. § 138.40 (2026)
- **Heading:** General requirements
- **Jurisdiction:** Federal
- **Kind:** Regulations
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** Title 33 CFR: Navigation and Navigable Waters / Chapter I: COAST GUARD, DEPARTMENT OF HOMELAND SECURITY / Part 138: EVIDENCE OF FINANCIAL RESPONSIBILITY FOR WATER POLLUTION (VESSELS) AND OPA 90 LIMITS OF LIABILITY (VESSELS, DEEPWATER PORTS AND ONSHORE FACILITIES) / Subpart A: Evidence of Financial Responsibility for Water Pollution (Vessels) / § 138.40: § 138.40   General requirements.

## Text

(a)
Requirement to establish and maintain evidence of financial responsibility.
The COFR Operator of a vessel must establish and maintain (or cause to be established and maintained) evidence of financial responsibility acceptable to the Director using any one of the methods specified in § 138.110, in an amount equal to or greater than the total applicable amount determined under § 138.100 and, in the case of a financial guarantor, as further provided under § 138.110(c)(2) (aggregation of total applicable amounts). The evidence of financial responsibility required by this paragraph must be—
(1) Established as of the date they become a responsible party; and
(2) Continuously maintained for so long as they remain a responsible party.
(b)
Requirement to have a COFR and report changes.
The COFR Operator must apply for and ensure the vessel is covered at all times by a current COFR, by complying with the requirements and procedures set forth in this subpart, including the reporting requirements in § 138.150.

## Nearby sections

- [33 C.F.R. § 138.10 (2026) § 138.10   Scope and purpose.](https://www.frixlaw.com/law-library/statutes/CFR_T33_P138_S138_10.md)
- [33 C.F.R. § 138.20 (2026) § 138.20   Applicability.](https://www.frixlaw.com/law-library/statutes/CFR_T33_P138_S138_20.md)
- [33 C.F.R. § 138.30 (2026) § 138.30   Definitions.](https://www.frixlaw.com/law-library/statutes/CFR_T33_P138_S138_30.md)
- [33 C.F.R. § 138.40 (2026) § 138.40   General requirements.](https://www.frixlaw.com/law-library/statutes/CFR_T33_P138_S138_40.md)
- [33 C.F.R. § 138.50 (2026) § 138.50   How to apply vessel gross tonnages.](https://www.frixlaw.com/law-library/statutes/CFR_T33_P138_S138_50.md)
- [33 C.F.R. § 138.60 (2026) § 138.60   Forms and submissions; ensuring submission timeliness.](https://www.frixlaw.com/law-library/statutes/CFR_T33_P138_S138_60.md)
- [33 C.F.R. § 138.70 (2026) § 138.70   Issuance and renewal of COFRs.](https://www.frixlaw.com/law-library/statutes/CFR_T33_P138_S138_70.md)
- [33 C.F.R. § 138.80 (2026) § 138.80   Applying for COFRs.](https://www.frixlaw.com/law-library/statutes/CFR_T33_P138_S138_80.md)
- [33 C.F.R. § 138.90 (2026) § 138.90   Renewing COFRs.](https://www.frixlaw.com/law-library/statutes/CFR_T33_P138_S138_90.md)
- [33 C.F.R. § 138.100 (2026) § 138.100   How to calculate a total applicable amount.](https://www.frixlaw.com/law-library/statutes/CFR_T33_P138_S138_100.md)
- [33 C.F.R. § 138.110 (2026) § 138.110   How to establish and maintain evidence of financial responsibility.](https://www.frixlaw.com/law-library/statutes/CFR_T33_P138_S138_110.md)
- [33 C.F.R. § 138.120 (2026) § 138.120   Fees.](https://www.frixlaw.com/law-library/statutes/CFR_T33_P138_S138_120.md)
- [33 C.F.R. § 138.130 (2026) § 138.130   Agents for Service of process.](https://www.frixlaw.com/law-library/statutes/CFR_T33_P138_S138_130.md)
- [33 C.F.R. § 138.140 (2026) § 138.140   Application withdrawals, COFR denials and revocations.](https://www.frixlaw.com/law-library/statutes/CFR_T33_P138_S138_140.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/CFR_T33_P138_S138_40. Check the current official text before relying on it. Not legal advice.