31 TAC § 19.78. Determination of No Intrinsic Value

In making a determination that a vessel or structure has no intrinsic value, the commissioner shall consider the following factors:

(1) the condition of the vessel or structure, including whether the derelict vessel or structure:

(A) is substantially dismantled and lacks more than one of the major components listed in §19.71(15) of this title (relating to Definitions);

(B) has any salvageable major components including, but not limited to, engine, hull, fuel tank, or rigging;

(C) is unnumbered or lacks current registration; or

(D) has any other relevant condition affecting its value.

(2) the cost for removal, storage, and disposal of the vessel relative to the salvage value of the vessel or structure;

(3) the cost of conducting a sale to a third party relative to the salvage value of the vessel or structure; and

(4) any other matter deemed relevant by the commissioner.