§ 446a. Financial responsibility; minimum amount; evidence

Each owner or charterer of a sailing school vessel shall maintain evidence of his or her financial responsibility to meet any liability incurred for death or injury to sailing school students or sailing school instructors on voyages aboard the vessel, in an amount not less than $50,000 for each student or instructor. Such financial responsibility may be evidenced by policies of insurance or other adequate financial resources.

U.S. Code

§ 446a. Financial responsibility; minimum amount; evidence