PUBLIC LAW 107-314—DEC. 2, 2002 116 STAT. 2753 Museum (a not-for-profit corporation, in this section referred to as the "recipient") for use as a mihtary museum, if— (1) the recipient agrees to use the vessel as a nonprofit mihtary museum; (2) the vessel is not used for commercial transportation purposes; (3) the recipient agrees to make the vessel available to the Government when the Secretary requires use of the vessel by the Government; (4) the recipient agrees that when the recipient no longer requires the vessel for use as a military museum— (A) the recipient will, at the discretion of the Secretary, reconvey the vessel to the Government in good condition except for ordinary wear and tear; or (B) if the Board of Trustees of the recipient has decided to dissolve the recipient according to the laws of the State of New York, then— (i) the recipient shall distribute the vessel, as an asset of the recipient, to a person that has been determined exempt from taxation under the provisions of section 501(c)(3) of the Internal Revenue Code, or to the Federal Government or a State or local government for a public purpose; and (ii) the vessel shall be disposed of by a court of competent jurisdiction of the county in which the principal office of the recipient is located, for such purposes as the court shall determine, or to such organizations as the court shall determine are organized exclusively for public purposes; (5) the recipient agrees to hold the Government harmless for any claims arising from exposure to asbestos, poly- chlorinated biphenyls, or lead paint after conveyance of the vessel, except for claims arising from use by the Government under paragraph (3) or (4); and (6) the recipient has available, for use to restore the vessel, in the form of cash, liquid assets, or a written loan commitment, financial resources of at least $100,000. (b) DELIVERY OF VESSEL.— If a conveyance is made under this section, the Secretary shall deliver the vessel at the place where the vessel is located on the date of enactment of this Act, in its present condition, and without cost to the Government. (c) OTHER UNNEEDED EQUIPMENT.— The Secretary may also convey any unneeded equipment from other vessels in the National Defense Reserve Fleet in order to restore the USS SPHINX (ARL- 24) to museum quality. (d) RETENTION OF VESSEL IN NDRF. —The Secretary shall retain in the National Defense Reserve Fleet the vessel authorized to be conveyed under subsection (a), until the earlier of— (1) 2 years after the date of the enactment of this Act; or (2) the date of conveyance of the vessel under subsection (a). SEC. 3503. INDEPENDENT ANALYSIS OF TITLE XI INSURANCE GUAR- ANTEE APPLICATIONS. Section 1104A of the Merchant Marine Act, 1936 (46 App. U.S.C. 1274) is amended—
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