{"data":{"id":"us/46-cfr-298.16","jurisdiction":"us","citation":"46 CFR 298.16","heading":"Substitution of participants.","body":"(a) You may request our permission to substitute participants to a Mortgage and/or Security Agreement in a financing that is receiving assistance authorized by Title XI of the Act.\n(b) A non-refundable fee of $3,000 is due, payable at the time of the request. The fee defrays all costs of processing and reviewing a joint application by a mortgagor and/or Obligor and a proposed transferee of a Vessel or Shipyard Project, which is security for Title XI debt, if the proposed transferee is to assume the Mortgage and/or the Security Agreement.","path":["Title 46—Shipping","CHAPTER II—MARITIME ADMINISTRATION, DEPARTMENT OF TRANSPORTATION","SUBCHAPTER D—VESSEL FINANCING ASSISTANCE","PART 298—OBLIGATION GUARANTEES","Subpart B—Eligibility"],"source_url":"https://www.ecfr.gov/api/versioner/v1/full/2026-08-25/title-46.xml","current_through":"2026-08-25","vintage":"","retrieved_at":"2026-08-27T02:26:22Z","sha256":"805308d34282e4d7a3111c65b41c722e975cde4a46ebf9b71d7198d37c5073ce","source_id":"us-cfr","stale":true,"prev":"us/46-cfr-298.15","next":"us/46-cfr-298.17"},"notice":"GroundRules: Original legal text. Not legal advice."}