Construction Reserve Funds
53301Definitions53302Authority for construction reserve funds53303Persons eligible to establish funds53304Vessel ownership53305Eligible fund deposits53306Recognition of gain for tax purposes53307Basis for determining gain or loss and for depreciating new vessels53308Order and proportions of deposits and withdrawals53309Accumulation of deposits53310Obligation of deposits and period for construction of certain vessels53311Taxation of deposits on failure of conditions53312Assessment and collection of deficiency tax