As used in this part–

Terms Used In 33 CFR 187.7

  • Approved Numbering System: means a numbering system approved by the Secretary of the Department of Homeland Security under 46 U. See 33 CFR 187.7
  • Certificate of Ownership: means the Certificate of Ownership issued by the Coast Guard under 46 CFR part 67 (Form CG-1330). See 33 CFR 187.7
  • Commandant: means the Commandant of the United States Coast Guard. See 33 CFR 187.7
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Dealer: means any person who engages wholly or in part in the business of buying, selling, or exchanging new or used vessels, or both, either outright or on conditional sale, bailment, lease, chattel mortgage or otherwise. See 33 CFR 187.7
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • Manufacturer: means any person engaged in the business of manufacturing or importing new vessels for the purpose of sale or trade. See 33 CFR 187.7
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • Person: means an individual, firm, partnership, corporation, company, association, joint-stock association, or governmental entity and includes a trustee, receiver, assignee, or similar representative of any of them. See 33 CFR 187.7
  • Secured party: means a lender, seller, or other person in whose favor there is a security interest under applicable law. See 33 CFR 187.7
  • Security interest: means an interest that is reserved or created by an agreement under applicable law and that secures payment or performance of an obligation. See 33 CFR 187.7
  • State: means a State of the United States, the District of Columbia, American Samoa, Guam, Northern Mariana Islands, Puerto Rico, U. See 33 CFR 187.7
  • Trustee: A person or institution holding and administering property in trust.
  • Vessel: includes every description of watercraft, other than a seaplane on the water, used or capable of being used as a means of transportation on water. See 33 CFR 187.7
  • VIS: means a system for collecting information on vessels and vessel ownership as required by 46 U. See 33 CFR 187.7

Approved Numbering System means a numbering system approved by the Secretary of the Department of Homeland Security under 46 U.S.C. Chapter 123.

Certificate of Documentation means the certificate issued by the Coast Guard for a documented vessel under 46 U.S.C. 12103 (Form CG-1270).

Certificate of Origin or COO means a document establishing the initial chain of ownership, such as a manufacturer‘s certificate of origin (MCO) or statement of origin (MSO), an importer’s certificate of origin (ICO) or statement of origin (ISO), or a builder’s certification (Form CG-1261; see 46 CFR part 67).

Certificate of Ownership means the Certificate of Ownership issued by the Coast Guard under 46 CFR part 67 (Form CG-1330).

Commandant means the Commandant of the United States Coast Guard.

Dealer means any person who engages wholly or in part in the business of buying, selling, or exchanging new or used vessels, or both, either outright or on conditional sale, bailment, lease, chattel mortgage or otherwise. A dealer must have an established place of business for the sale, trade, and display of such vessels.

Documented vessel means a vessel documented under 46 U.S.C. chapter 121.

Hull Identification Number or HIN means the number assigned to a vessel under subpart C of 33 CFR part 181.

Issuing authority means either a State that has an approved numbering system or the Coast Guard in a State that does not have an approved numbering system.

Manufacturer means any person engaged in the business of manufacturing or importing new vessels for the purpose of sale or trade.

Owner means a person, other than a secured party, having property rights in, or title to, a vessel. “Owner” includes a person entitled to use or possess a vessel subject to a security interest in another person, but does not include a lessee under a lease not intended as security.

Participating State means a State certified by the Commandant as meeting the requirements of subpart C of this part. States meeting this definition will be listed in appendix A to this part.

Person means an individual, firm, partnership, corporation, company, association, joint-stock association, or governmental entity and includes a trustee, receiver, assignee, or similar representative of any of them.

Secured party means a lender, seller, or other person in whose favor there is a security interest under applicable law.

Security interest means an interest that is reserved or created by an agreement under applicable law and that secures payment or performance of an obligation.

State means a State of the United States, the District of Columbia, American Samoa, Guam, Northern Mariana Islands, Puerto Rico, U.S. Virgin Islands, and any other territory or possession of the United States.

Titled vessel means a vessel titled by a State.

Titling authority means a State whose vessel titling system has been certified by the Commandant under subpart D of this part. Titling authorities participating in VIS will be listed in appendix B to this part.

Vessel includes every description of watercraft, other than a seaplane on the water, used or capable of being used as a means of transportation on water.

Vessel Identification System or VIS means a system for collecting information on vessels and vessel ownership as required by 46 U.S.C. 12501.

[USCG-1999-6420, 66 FR 15630, Mar. 20, 2001, as amended by USCG-2008-0179, 73 FR 35024, June 19, 2008]