{"data":{"id":"us/33-cfr-138.40","jurisdiction":"us","citation":"33 CFR 138.40","heading":"General requirements.","body":"(a) Requirement to establish and maintain evidence of financial responsibility. The COFR Operator of a vessel must establish and maintain (or cause to be established and maintained) evidence of financial responsibility acceptable to the Director using any one of the methods specified in § 138.110, in an amount equal to or greater than the total applicable amount determined under § 138.100 and, in the case of a financial guarantor, as further provided under § 138.110(c)(2) (aggregation of total applicable amounts). The evidence of financial responsibility required by this paragraph must be—\n(1) Established as of the date they become a responsible party; and\n(2) Continuously maintained for so long as they remain a responsible party.\n(b) Requirement to have a COFR and report changes. The COFR Operator must apply for and ensure the vessel is covered at all times by a current COFR, by complying with the requirements and procedures set forth in this subpart, including the reporting requirements in § 138.150.","path":["Title 33—Navigation and Navigable Waters","CHAPTER I—COAST GUARD, DEPARTMENT OF HOMELAND SECURITY","SUBCHAPTER M—MARINE POLLUTION FINANCIAL RESPONSIBILITY AND COMPENSATION","PART 138—EVIDENCE OF FINANCIAL RESPONSIBILITY FOR WATER POLLUTION (VESSELS) AND OPA 90 LIMITS OF LIABILITY (VESSELS, DEEPWATER PORTS AND ONSHORE FACILITIES)","Subpart A—Evidence of Financial Responsibility for Water Pollution (Vessels)"],"source_url":"https://www.ecfr.gov/api/versioner/v1/full/2026-08-25/title-33.xml","current_through":"2026-08-25","vintage":"","retrieved_at":"2026-08-27T02:25:35Z","sha256":"8b562f75283033a117e5b1c8cf46f27810e06f383b451b915100e8b46fc040c7","source_id":"us-cfr","stale":true,"prev":"us/33-cfr-138.30","next":"us/33-cfr-138.50"},"notice":"GroundRules: Original legal text. Not legal advice."}