46 C.F.R. § 287.27 Controlled corporation.
Title 46 - Shipping
For the purpose of section 511 of the Act and the regulations in this part a new vessel is considered as constructed, reconstructed, reconditioned, or acquired by the taxpayer if constructed, reconstructed, reconditioned, or acquired by a corporation at a time when the taxpayer owns not less than 95 percent of the total number of shares of each class of stock of the corporation.
Title 46: Shipping
PART 287—ESTABLISHMENT OF CONSTRUCTION RESERVE FUNDS
§ 287.27 Controlled corporation.