46 CFR 298.38 - Partnership agreements and limited liability company agreements.

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Title 46: Shipping

CHAPTER II: MARITIME ADMINISTRATION, DEPARTMENT OF TRANSPORTATION

SUBCHAPTER D: VESSEL FINANCING ASSISTANCE

PART 298: OBLIGATION GUARANTEES

Subpart D: Documentation

298.38 - Partnership agreements and limited liability company agreements.

Partnership and limited liability company agreements must be in form and substance satisfactory to us prior to any Guarantee Closing, especially relating, but not limited to:

(a) Duration of the entity;

(b) Adequate partnership or limited liability company funding requirements and mechanisms;

(c) Dissolution of the entity and withdrawal of a general partner or member;

(d) The termination, amendment, or other modification of the entity without our prior written consent; and

(e) Distribution of funds or ownership interest.

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