{"data":{"id":"us/46-cfr-356.9","jurisdiction":"us","citation":"46 CFR 356.9","heading":"Tiered ownership structures.","body":"Non-Citizens may not own or control, either directly through the first tier of ownership or in the aggregate through an interest in other entities at various tiers, more than 25% of the interest in an entity which owns a Fishing Industry Vessel. The prohibition against Non-Citizens owning or controlling more than 25%, in the aggregate, of the interest in an entity that owns a Fishing Industry Vessel means, for example, that:\n(a) Non-Citizens that own or control a 25% stake in the ownership entity of a Fishing Industry Vessel at the first tier may not have any interest whatsoever in any entity that is being relied upon to establish the required 75% U.S. Citizen ownership; and\n(b) Non-Citizens that own or control less than a 25% stake at the first tier may participate in the ownership and control of other entities that are being relied upon to establish the required 75% U.S. Citizen ownership and control at the first tier. However, the total ownership and control by Non-Citizens of the entity owning a Fishing Industry Vessel may not exceed 25% in the aggregate as computed by MARAD.","path":["Title 46—Shipping","CHAPTER II—MARITIME ADMINISTRATION, DEPARTMENT OF TRANSPORTATION","SUBCHAPTER J—MISCELLANEOUS","PART 356—REQUIREMENTS FOR VESSELS OF 100 FEET OR GREATER IN REGISTERED LENGTH TO OBTAIN A FISHERY ENDORSEMENT TO THE VESSEL'S DOCUMENTATION","Subpart B—Ownership and Control"],"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":"20285a78de1fe9a9e27a3086b6b7b82eba39d989c902e58e07b16ba1833c3810","source_id":"us-cfr","stale":true,"prev":"us/46-cfr-356.7","next":"us/46-cfr-356.11"},"notice":"GroundRules: Original legal text. Not legal advice."}