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In forceAmended1985 Revised Edition

381. Mortgagee not deemed to be owner

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Amended

Last amended by an amending law of 1970.

Except as may be necessary for making a mortgaged ship or share available as a security for the mortgage debt, the mortgagee shall not, by reason of the mortgage, be deemed to be the owner of the ship or share, nor shall the mortgagor be deemed to have ceased to be the owner thereof.[416D

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