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Gale Encyclopedia Of American Law 3Rd Edition Volume 6 P41

Gale Encyclopedia of American Law Volume 6 P41 fully illuminates today's leading cases, major statutes, legal terms and concepts, notable persons involved with the law, important documents and more. Legal issues are fully discussed in easy-to-understand language, including such high-profile topics as the Americans with Disabilities Act, capital punishment, domestic violence, gay and lesbian rights, physician-assisted suicide and thousands more. | 388 LOAD LINES Load lines indicate the legal limit to which a ship may be loaded for specific ocean areas and seasons of the year. In the United States the U.S. Coast Guard issues these regulations. @ JOEL W. ROGERS CORBIS. LOAD LINES A marking indicating the extent to which the weight of a load may safely submerge a ship also called Plimsoll line. The load line or Plimsoll mark is positioned amidships on both sides of a vessel. Its purpose is to indicate the legal limit to which a ship may be loaded for specific ocean areas and seasons of the year. The basic Load Line Certificate is issued after a complex calculation is made to determine exactly where the Plimsoll mark should be positioned. These certificates take several forms such as international voyage coastwise traffic and Great Lakes operations. By calculating the load line the agency issuing a certificate has determined among other aspects of seaworthiness that a vessel has enough volume of ship reserve buoyancy above the waterline so that it will not be in danger of foundering or plunging when under way in heavy seas. In the United States the U.S. Coast Guard issues load line regulations routine assignment of load lines is handled by the American Bureau of Shipping. A series of multilateral treaties has been executed to impose on signatories the responsibility of seeing that ships flying under their flag have safe load lines designated and that they are observed. The principal treaty is the International Convention on Load Lines 1966. The use of load lines on vessels sailing under the flag of the United States is mandated by federal law 46 U.S.C.A. 86 1973 . The treaties typically do not apply to ships of war small ships pleasure boats and fishing vessels. LOAN COMMITMENT Commitment to a borrower by a lending institution that it will loan a specific amount at a certain rate on a particular piece of real estate. Such commitment is usually limited to a specified time period e.g. four months which is commonly