148.315—How is a license amended, transferred, or reinstated?
(a)
MARAD may amend, transfer, or reinstate a license if it finds that the amendment, transfer, or reinstatement is consistent with the requirements of the Act and this subchapter.
(b)
The owner must submit a request for an amendment, transfer, or reinstatement to the Commandant (CG-5) or the MARAD Administrator.