# 46 C.F.R. § 287.7 (2026): Circumstances permitting reimbursement from a construction reserve fund

> Federal · Regulations · In force

URL: https://www.frixlaw.com/law-library/statutes/CFR_T46_P287_S287_7

## Section

- **Citation:** 46 C.F.R. § 287.7 (2026)
- **Heading:** Circumstances permitting reimbursement from a construction reserve fund
- **Jurisdiction:** Federal
- **Kind:** Regulations
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** Title 46 CFR: Shipping / Chapter II: MARITIME ADMINISTRATION, DEPARTMENT OF TRANSPORTATION / Part 287: ESTABLISHMENT OF CONSTRUCTION RESERVE FUNDS / § 287.7: § 287.7   Circumstances permitting reimbursement from a construction reserve fund.

## Text

(a)
Payments prior to establishment of fund.
If, prior to the establishment of a construction reserve fund under the regulations in this part, a taxpayer has made necessary payments under a contract which satisfies the provisions of the regulations in this part and section 511 of the Act for the construction or acquisition of a new vessel, such taxpayer may, if subsequently authorized to establish a construction reserve fund under the regulations in this part, draw against such fund as reimbursement for the amount, if any, of other funds which, with the approval or ratification of the Administration, the taxpayer used for making such necessary payments prior to the establishment of the fund.
(b)
Payments subsequent to establishment of fund.
If, subsequent to the establishment of a construction reserve fund under the regulations in this part, the taxpayer has made necessary payments under a contract which satisfies the provisions of the regulations in this part and section 511 of the Act for the construction or acquisition of a new vessel, such taxpayer may draw against such fund as reimbursement for the amount, if any, of other funds which, with the approval or ratification of the Administration, the taxpayer had used for the purpose of making such necessary payments.

## Nearby sections

- [46 C.F.R. § 287.1 (2026) § 287.1   Definitions.](https://www.frixlaw.com/law-library/statutes/CFR_T46_P287_S287_1.md)
- [46 C.F.R. § 287.2 (2026) § 287.2   Scope of section 511 of the Act and the regulations in this part.](https://www.frixlaw.com/law-library/statutes/CFR_T46_P287_S287_2.md)
- [46 C.F.R. § 287.3 (2026) § 287.3   Requirements as to vessel operations.](https://www.frixlaw.com/law-library/statutes/CFR_T46_P287_S287_3.md)
- [46 C.F.R. § 287.4 (2026) § 287.4   Application to establish fund.](https://www.frixlaw.com/law-library/statutes/CFR_T46_P287_S287_4.md)
- [46 C.F.R. § 287.5 (2026) § 287.5   Tentative authorization to establish fund.](https://www.frixlaw.com/law-library/statutes/CFR_T46_P287_S287_5.md)
- [46 C.F.R. § 287.6 (2026) § 287.6   Establishment of fund.](https://www.frixlaw.com/law-library/statutes/CFR_T46_P287_S287_6.md)
- [46 C.F.R. § 287.7 (2026) § 287.7   Circumstances permitting reimbursement from a construction reserve fund.](https://www.frixlaw.com/law-library/statutes/CFR_T46_P287_S287_7.md)
- [46 C.F.R. § 287.8 (2026) § 287.8   Investment of funds in securities.](https://www.frixlaw.com/law-library/statutes/CFR_T46_P287_S287_8.md)
- [46 C.F.R. § 287.9 (2026) § 287.9   Valuation of securities in fund.](https://www.frixlaw.com/law-library/statutes/CFR_T46_P287_S287_9.md)
- [46 C.F.R. § 287.10 (2026) § 287.10   Withdrawals from fund.](https://www.frixlaw.com/law-library/statutes/CFR_T46_P287_S287_10.md)
- [46 C.F.R. § 287.11 (2026) § 287.11   Time deposits.](https://www.frixlaw.com/law-library/statutes/CFR_T46_P287_S287_11.md)
- [46 C.F.R. § 287.12 (2026) § 287.12   Election as to nonrecognition of gain.](https://www.frixlaw.com/law-library/statutes/CFR_T46_P287_S287_12.md)
- [46 C.F.R. § 287.13 (2026) § 287.13   Deposit of proceeds of sales or indemnities.](https://www.frixlaw.com/law-library/statutes/CFR_T46_P287_S287_13.md)
- [46 C.F.R. § 287.14 (2026) § 287.14   Deposit of earnings and receipts.](https://www.frixlaw.com/law-library/statutes/CFR_T46_P287_S287_14.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/CFR_T46_P287_S287_7. Check the current official text before relying on it. Not legal advice.