46 U.S.C. § 56101: Approval required to transfer vessel to noncitizen

a documented vessel owned by a citizen of the United States; or a vessel last documented under the laws of the United States; or place under foreign registry, or operate under the authority of a foreign country, a documented vessel or a vessel last documented under the laws of the United States. Paragraph (1)(A) does not apply to a vessel that has been operated only for pleasure or only as a fishing vessel, fish processing vessel, or fish tender vessel (as defined in section 2101 of this title ). To promote financing with respect to a vessel to be documented under chapter 121 of this title, the Secretary may grant approval under subsection (a) before the vessel is documented. the Secretary, in conjunction with the Secretary of Defense, determines that at least one replacement vessel of equal or greater military capability and of a capacity that is equivalent or greater, as measured by deadweight tons, gross tons, or container equivalent units, as appropriate, is documented under chapter 121 of this title by the owner of the vessel placed under foreign registry; and the replacement vessel is not more than 10 years old on the date of that documentation; or an operating agreement covering the vessel under chapter 531 of this title has expired. A charter, sale, or transfer of a vessel, or of an interest in or control of a vessel, in violation of this section is void. A person that knowingly sells, charters, or transfers a vessel, or an interest in or control of a vessel, in violation of this section shall be fined under title 18, imprisoned for not more than 5 years, or both. A person that sells, charters, or transfers a vessel, or an interest in or control of a vessel, in violation of this section is liable to the United States Government for a civil penalty of not more than $10,000 for each violation. knowingly sells, charters, or transfers the vessel or an interest in or control of the vessel; or places the vessel under foreign registry or operates the vessel under the authority of a foreign country. a detailed summary of each request for a determination, approval, or confirmation that a vessel charter for a passenger vessel is encompassed by the general approval of time charters issued pursuant to this section or regulations prescribed pursuant to such section; and the final action of the Administration with respect to such request, after the provision of notice and opportunity for public comment.