|Subpart B||Information to Be Collected by Participating States|
|Subpart C||Requirements for Participating in Vis|
|Subpart D||Guidelines for State Vessel Titling Systems|
Terms Used In 33 CFR Part 187
- 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
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
- Certificate of Documentation: means the certificate issued by the Coast Guard for a documented vessel 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
- 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 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
- Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
- Documented vessel: means a vessel documented under 46 U. See 33 CFR 187.7
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- HIN: means the number assigned to a vessel under subpart C of 33 CFR part 181. See 33 CFR 187.7
- 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. See 33 CFR 187.7
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- 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
- Lien: A claim against real or personal property in satisfaction of a debt.
- 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.
- 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. See 33 CFR 187.7
- 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
- Statute: A law passed by a legislature.
- Trustee: A person or institution holding and administering property in trust.
- Uniform Commercial Code: A set of statutes enacted by the various states to provide consistency among the states' commercial laws. It includes negotiable instruments, sales, stock transfers, trust and warehouse receipts, and bills of lading. Source: OCC
- 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