46 U.S.C. § 53707: Findings related to obligors and operators

The Secretary or Administrator may not guarantee or make a commitment to guarantee an obligation under this chapter unless the Secretary or Administrator finds that the obligor is responsible and has the ability, experience, financial resources, and other qualifications necessary for the adequate operation and maintenance of each vessel that will serve as security for the guarantee. a violation of part A of subtitle IV of this title that involves unjust or unfair discriminatory treatment or undue or unreasonable prejudice or disadvantage with respect to a United States shipper, ocean transportation intermediary, ocean common carrier, or port; or a violation of part B of subtitle IV of this title. held liable, or the vessel has been held liable in rem, for a civil penalty under section 308 of the Magnuson-Stevens Fishery Conservation and Management Act ( 16 U.S.C. 1858 ) and the operator has not paid the penalty; found guilty of an offense under section 309 of the Magnuson-Stevens Fishery Conservation and Management Act ( 16 U.S.C. 1859 ) and not paid the assessed fine or served the assessed sentence; held liable for a civil or criminal penalty under section 105 of the Marine Mammal Protection Act of 1972 ( 16 U.S.C. 1375 ) and not paid the assessed fine or served the assessed sentence; or held liable for a civil penalty by the Coast Guard under this title or title 33 and not paid the assessed fine. the economic soundness requirements in section 53708(a) of this title are met after the waiver of the financial condition requirement; and if the Secretary or Administrator considers necessary, the waiver shall provide for the imposition of other requirements on the obligor designed to compensate for any significant increase in risk associated with the obligor’s failure to meet regulatory requirements applicable to financial condition.