Cal. Harb. and Nav. Code § 472

Current through the 2023 Legislative Session.

Section 472 - Master's authority to hypothecate cargo

The master of a vessel may hypothecate its cargo upon respondentia only if all of the following conditions exist:

(a) He would be authorized to hypothecate the vessel and freightage.

(b) He is unable to borrow sufficient money on the vessel and freightage for repairs or supplies which are necessary for the successful accomplishment of the voyage.

(c) There is a reasonable prospect of benefiting the cargo.

Ca. Harb. and Nav. Code § 472

Enacted by Stats. 1937, Ch. 368.