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46 CFR § 356.19
REQUIREMENTS TO HOLD A PREFERRED MORTGAGE
(a) In order for a Mortgagee to be eligible to obtain a Preferred Mortgage on a Fishing Industry Vessel after April 1, 2003, it must be:
(1) A Citizen of the United States
(2) A state or federally chartered financial institution that is insured by the Federal Deposit Insurance Corporation;
(3) A farm credit lender established under title 12, chapter 23, of the United States Code [12 U.S.C. §§ 2001 et seq.];
(4) A commercial fishing and agriculture bank established pursuant to State law;
(5) A commercial lender organized under the laws of the United States or of a State and eligible to own a vessel under 46 U.S.C. § 12102(a); or
(6) A Mortgage Trustee that complies with the requirements of 46 U.S.C. § 31322(f) and 46 C.F.R. §§ 356.27-356.31.
Choose the appropriate Form of Certificate below:
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