Mr. Speaker. today I have introduced a bill to revise the Coast Guard registration of certain undocumented vessels in order to provide for notation of liens. mortgages and other encumbrances on the reverse side of the certificate of award. and to further provide for the issuance of a duplicate certificate to remain on board the vessel. while the original is held by the lending bank. The Coast Guard has advised me that it has no authority under existing law for the recording of mortgages or for the notation of a lien or other encumbrance on the socalled certificate of award. and the legislation which I have introduced today is designed to provide this necessary authority. Mr.
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undocumented