(3) The length and sex of a fetus, if present in a landed bowhead whale;

(4) An explanation of circumstances associated with the striking or attempted striking of any bowhead whale not landed; and

(5) The number of bowhead whales sighted by the whaling captain or any member of the whaling crew.

§ 230.77

Penalties.

Any person who whales in contravention of these regulations, or violates any other provision of the Whaling Convention Act shall be subject to the penalties set forth in 16 U.S.C. 916e and 916f, and any other penalties provide by law.

PART 250-FISHERIES LOAN FUND

For the purpose of this part, the following terms mean:

(a) Secretary. The Secretary of Commerce or his designee.

(b) Act. The Fish and Wildlife Act of 1956, as amended (16 U.S.C. 742(c)).

(c) State. Any State, the territories and possessions of the United States, the Commonwealth of Puerto Rico, and the District of Columbia.

(d) Citizen of the United States. Any individual who is a United States citizen by law, birth, or naturalization; any association, partnership, or corporation which meets the requirements of section 2 of the Shipping Act, 1916, for documenting vessels in the coastwise trade; or any State, agency of a State, or group of States.

(e) National of the United States. Any individual who is a United States national by law or birth or any association, partnership, or corporation which meets the requirements of section 2 of the Shipping Act, 1916, for documenting vessels in the coastwise trade (except that organization under the laws of American Samoa is permissible and individuals who are either nationals or citizens of the United States meet the Shipping Act requirements for the purpose of this Program).

(f) Commercial fishing vessel. Any waterborne craft documented under U.S. law or registered under State laws whose purpose is commercial fishing or assisting commercial fishing.

(g) Fund. The Fisheries Loan Fund authorized by 16 U.S.C. 742(c), as amended.

(h) Obligation. Any evidence of indebtedness.

(i) Obligor. Any owner or operator of a commercial fishing vessel who is primarily liable for payment of any obligation.

§ 250.3 Loan authorization and priority.

(a) Loans shall be made only for one of the following purposes:

(1) Assisting obligors to avoid default obligations financing the construction, reconstruction, reconditioning, or purchase of commercial fishing vessels of at least 5 net tons when those obligations are guaranteed by the Federal Government under the Fisheries Obligation Guarantee Program authorized by Title XI of the Merchant Marine Act, 1936 (46 U.S.C. 1271 through 1280).

(2) Assisting obligors to avoid default on obligations financing the construction, reconstruction, reconditioning, or purchase of commercial fishing vessels of at least 5 net tons (i) when those obligations are not guaranteed under the Fisheries Obligation Guarantee Program, but; (ii) the vessels involved meet the use and documentation requirements, and the obligors meet the citizenship requirements, which would apply if the obligations had been guaranteed under the Fisheries Obligation Guarantee Program.

(3) Assisting the owners or operators of commercial fishing vessels of any size where there has been, or may be, a net operating loss.

(4) To the extent funds are available and consistent with any limitations on apportionments made by the Office of Management and Budget, the first priority for loans is paragraph (a)(1) of this section, and the second priority for loans is paragraph (a)(2) of this section. Any monies not required for paragraphs (a)(1) and (a)(2) will be used for paragraph (a)(3) of this section.

[48 FR 23792, May 26, 1983, as amended at 50 FR 7921, Feb. 27, 1985]

Subpart B-Application

§ 250.4 Eligibility.

An eligible applicant must be a citizen or national of the United States and must:

(a) Reside or conduct business in any State;

(b) Own or operate a commercial fishing vessel used for commercial fishing operations; and

(c) Demonstrate that he has substantial experience and proven ability in the management and financing of fishing operations and that the loan is

likely to result in the continued viability of the commercial fishing operation. In making this determination, the Secretary shall consider, among other factors, economic conditions within any fishery, the negative financial effect these conditions may have had, and the uncertainty these conditions may cause over the longer term. (Approved by the Office of Management and Budget under control number 06480133)

[48 FR 23792, May 26, 1983, as amended at 48 FR 57302, Dec. 29, 1983]

§ 250.5 Other requirements.

(a) The applicant must demonstrate at the time of application that the loan applied for is not otherwise available at reasonable rates which permit continued operation. The loan applied for shall be deemed to be otherwise available at reasonable rates which · permit .continued operation unless an applicant can show:

(1) Proof of at least two refusals of the desired credit from the applicant's bank. This proof of refusal must be dated and state the amount of loan and terms requested.

(2) That the desired credit is otherwise unavailable on reasonable terms from sources other than banks, as from:

(i) The disposal at a fair price of assets not required by the applicants in the conduct of his business or not reasonably necessary to its potential growth, (ii) use of personal credit and/ or resources of the owner, partners, management, affiliates, or principal stockholders of the applicant, or (iii) from other known sources of credit.

(b) Bank refusals to advance credit will not be considered the full test of credit unavailability where there is reason to believe that credit is otherwise available on reasonable terms from sources other than banks. Nevertheless, in the case of an application by an obligor whose obligation is guaranteed under the Fisheries Obligation Guarantee Program, proof of the refusal of the obligor's bank and at least one other source to extend further credit on behalf of the obligor may constitute proof that the credit ap

plied for is not otherwise available on reasonable terms.

§ 250.6 Application processing and procedures.

(a) Applicants for loans under § 250.3(a)(1) may apply at any time (the Fund will, however, expire on September 30, 1983). Applicants for loans under § 250.3(a)(2) may apply only during such open seasons as the Secretary provides by further notice. In the event monies become available under § 250.3(a)(3), open seasons will be established by further notice. Available monies for all purposes may be regionally apportioned and maximum loan amounts will be established by further notice. Restrictive application criteria will be established by further notice for loan applications under § 250.3(a)(2).

(b) Forms. Applicants must file an application, furnished by the National Marine Fisheries Service, with the Regional Branch of the National Marine Fisheries Service's Financial Services Division in the Region in which the applicant conducts his business. The Regional Offices' addresses follow:

(1) Northeast Region. (Maine, Massachusetts, Rhode Island, Connecticut, New Hampshire, New York, New Jersey, Delaware, Maryland, Virginia, and the Great Lakes States): Financial Services Branch, National Marine Fisheries Service, Post Office Building, Box 1109, Gloucester, Massachusetts 01930, (617) 281-3600.

(2) Southeast Region. (North Carolina, South Carolina, Georgia, Flordia, Alabama, Mississippi, Louisiana, Texas, Puerto Rico, Virgin Islands): Financial Services Branch, National Marine Fisheries Service, 9450 Koger Boulevard, Duval Building, St. Petersburg, Florida 33702, (813) 893-3148.

(3) Southwest Region. (California, Hawaii, American Samoa, Guam, Trust Territory of Pacific Islands): Financial Services Branch, National Marine Fisheries Service, 300 South Ferry Street, Terminal Island, California 90731, (213) 548-2478.

(4) Northwest Region. (Washington, Oregon, Alaska): Financial Services Branch, National Marine Fisheries Service, 7600 Sandpoint Way, NE (BIN

C15700) Seattle, Washington 98115, (206) 446-6118.

(c) Processing of applications. If the application is materially complete and the applicant is eligible, the Regional Financial Services Branch will accept the application and assign it a case number. under Applications

§ 250.3(a)(2) will be considered in the order of their submission. Applications received after available monies are exhausted will not be considered. The Regional Financial Services Branch will evaluate applications being considered for funding. After a decision is made, the Regional Financial Services Branch will inform the applicant.

Subpart C-Loans

§ 250.7 Approval.

(a) The Secretary will approve the loan by a loan authorization letter covering the terms and conditions of the loan.

(b) Loan documents will be furnished by the Secretary. Applicants whose applications are not approved will be notified by a letter from the Financial Services Branch.

§ 250.8 Amount of loan and other restrictions.

Loan amounts may be limited from time to time in order to prevent exhaustion of available loan monies and to assure that monies will be used effectively. The amount any one borrower, or related borrowers, may borrow will be restricted. Only principals may apply. Restrictions regarding length of fisheries experience and other factors will be established by further notice. Loan amount limitations and other requirements will be effected by instructions from the Chief, Financial Services Division, National Marine Fisheries Service, Washington, D.C.

§ 250.9 Interest.

The rate of interest on all loans made under § 250.3 (a)(1) and (a)(2) will be 3 percent. Interest rates on loans made under § 250.3(a)(3) will be the rate prevailing for loans made under the Emergency Agricultural Credit Act of 1978 (7 U.S.C. preceding 1961 note).

251.20 Fishery of yellowfin tuna in the area regulated by the Inter-American Tropical Tuna Commission.

251.21 Fishery for salmon in Alaska. 251.22 Fishery for American lobster (Ho

marus Americanus) in the Gulf of Maine.

251.23 Fishery for salmon in Washington, Oregon, and California.

251.24 Fishery for king crab in Alaska. 251.25 Fishery for surf clams. 251.26 Fishery for Atlantic Groundfish

(cod, haddock, and yellowtail flounder). AUTHORITY: Sec. 4 of the Fish and Wildlife Act of 1956, as amended (16 U.S.C. 742) Title XI, Merchant Marine Act, 1936, as amended (46 U.S.C. 1271-1279) sec. 607, Merchant Marine Act, 1936, as amended (46 U.S.C. 1177) National Environmental Policy Act, 42 U.S.C. 4321-4347; and Reorganization Plan No. 4 of 1970, 86 Stat. 909.

SOURCE: 38 FR 29328, Oct. 24, 1973, unless otherwise noted.