# 46 CFR § 351.2: Qualification of depository

> Federal · Regulations · In force

URL: https://www.frixlaw.com/law-library/statutes/ecfr-46-351.2

## Section

- **Citation:** 46 CFR § 351.2
- **Heading:** Qualification of depository
- **Jurisdiction:** Federal
- **Kind:** Regulations
- **Status:** In force
- **Text as of:** September 22, 2026
- **Source:** Publisher's official text
- **Location:** Title 46—Shipping > CHAPTER II—MARITIME ADMINISTRATION, DEPARTMENT OF TRANSPORTATION > SUBCHAPTER J—MISCELLANEOUS > PART 351—DEPOSITORIES

## Text

(a) General qualification. Any depository which is a member of the Federal Deposit Insurance Corporation will be approved for deposit of funds under the maritime programs authorized by the Act. With respect to the Capital Construction Fund program, any depository which is a member of the Securities Investor Protection Corporation, and is organized as a corporation under the laws of the United States, any State, territory, or possession thereof or the District of Columbia, will also be approved for the deposit of funds.
(b) Limitation on amount of deposits. No person making deposits under the programs authorized by the Act shall make or maintain deposits which exceed 5 percent of the depository's total deposits.
[38 FR 8061, Mar. 28, 1973, as amended at 63 FR 55039, Oct. 14, 1998]

## Nearby sections

- [46 CFR § 350.1 § 350.1 Purpose.](https://www.frixlaw.com/law-library/statutes/ecfr-46-350.1.md)
- [46 CFR § 350.2 § 350.2 Special medals and awards.](https://www.frixlaw.com/law-library/statutes/ecfr-46-350.2.md)
- [46 CFR § 350.3 § 350.3 Other original recognition of service.](https://www.frixlaw.com/law-library/statutes/ecfr-46-350.3.md)
- [46 CFR § 350.4 § 350.4 Eligibility for awards.](https://www.frixlaw.com/law-library/statutes/ecfr-46-350.4.md)
- [46 CFR § 350.5 § 350.5 Replacement decorations.](https://www.frixlaw.com/law-library/statutes/ecfr-46-350.5.md)
- [46 CFR § 350.6 § 350.6 Unauthorized sale, manufacture, possession or display.](https://www.frixlaw.com/law-library/statutes/ecfr-46-350.6.md)
- [46 CFR § 350.7 § 350.7 Special certificate of recognition.](https://www.frixlaw.com/law-library/statutes/ecfr-46-350.7.md)
- [46 CFR § 351.1 § 351.1 Purpose.](https://www.frixlaw.com/law-library/statutes/ecfr-46-351.1.md)
- [46 CFR § 351.2 § 351.2 Qualification of depository.](https://www.frixlaw.com/law-library/statutes/ecfr-46-351.2.md)
- [46 CFR § 355.1 § 355.1 General.](https://www.frixlaw.com/law-library/statutes/ecfr-46-355.1.md)
- [46 CFR § 355.2 § 355.2 Evidencing U.S. citizenship; affidavit guide.](https://www.frixlaw.com/law-library/statutes/ecfr-46-355.2.md)
- [46 CFR § 355.3 § 355.3 Criteria to be applied in support of stock data in affidavit.](https://www.frixlaw.com/law-library/statutes/ecfr-46-355.3.md)
- [46 CFR § 355.4 § 355.4 Changes in citizenship data.](https://www.frixlaw.com/law-library/statutes/ecfr-46-355.4.md)
- [46 CFR § 355.5 § 355.5 Additional material.](https://www.frixlaw.com/law-library/statutes/ecfr-46-355.5.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/ecfr-46-351.2. Check the current official text before relying on it. Not legal advice.