Why does the coast guard require designation of a managing owner?

Why does the coast guard require designation of a managing owner?

The Coast Guard wants to make certain that the correct person receives mail concerning the vessel documentation. As many vessels have multiple owners, one must be designated as the managing owner. 

 

According to Cornell Law, for a vessel with multiple owners, the managing owner of a vessel “must have an address in the United States except where no owner of the vessel has an address in the United States.” 

 

For a trust arrangement, the owner “must be one of the trustees.” In a partnership, the address of the managing owner must be “in the State under whose laws it is organized or of its principal place of business.” In terms of a corporation, its address “for services of process within the State of incorporation or of its principal place of business.” 

 

Should the address of the managing owner change, the managing owner must notify the NVDC within ten days.

Why Does the Coast Guard Require Designation of a Managing Owner?