Public Law 83–447

That section 30, subsection

Foreign ship mortgages.

K, of the Act of June 5, 1920, as amended, known as the Ship Mortgage Act, 1920 (41 Stat. 1003), is hereby amended by adding at

46 USC 951.

the end of subsection K the following provision:

“Foreign ship mortgages: As used in subsections K, L, M, and N

46 USC 951–954.

of this section, the term ‘preferred mortgage’ shall include, in addition to a preferred mortgage made pursuant to the provisions of this section, any mortgage, hypothecation, or similar charge created as security upon any documented foreign vessel (other than a towboat, barge, scow, lighter, car float, canal boat, or tank vessel, of less than two hundred gross tons) if such mortgage, hypothecation, or similar charge has been duly and validly executed in accordance with the laws of the foreign nation under the laws of which the vessel is documented and has been duly registered in accordance with such laws in a public register either at the port of registry of the vessel or at a central office; and the term ‘preferred mortgage lien’ shall also include the lien of such mortgage, hypothecation, or similar charge: Provided, however, That such ‘preferred mortgage lien’ in the case of a foreign vessel shall also be subordinate to maritime liens for repairs, supplies, towage, use of drydock or marine railway, or other necessaries, performed or supplied in the United States.”