For a corporation to be eligible to register a vessel under the national flag for fishing in the United States Exclusive Economic Zone, its chief executive officer, chairman of the board of directors and a majority of the directors must be citizens of the United States.
"§108. Fisheries
In this title, the term "fisheries" includes processing, storing, transporting (except in foreign commerce), planting, cultivating, catching, taking, or harvesting fish, shellfish, marine animals, pearls, shells, or marine vegetation in the navigable waters of the United States or in the exclusive economic zone.
[...]
§12102. Vessels requiring documentation
(a) In General.—Except as otherwise provided, a vessel may engage in a trade only if the vessel has been issued a certificate of documentation with an endorsement for that trade under this chapter.
(b) Vessels Less Than 5 Net Tons.—A vessel of less than 5 net tons may engage in a trade without being documented if the vessel otherwise satisfies the requirements to engage in the particular trade.
(c) Barges.—A barge qualified to engage in the coastwise trade may engage in the coastwise trade, without being documented, on rivers, harbors, lakes (except the Great Lakes), canals, and inland waters.
(d) Aquaculture Waiver.—
(1) Permitting of nonqualified vessels to perform certain aquaculture support operations.—Notwithstanding section 12113 and any other law, the Secretary of Transportation may issue a waiver allowing a documented vessel with a registry endorsement or a foreign flag vessel to be used in operations that treat aquaculture fish for or protect aquaculture fish from disease, parasitic infestation, or other threats to their health if the Secretary finds, after publishing a notice in the Federal Register, that a suitable vessel of the United States is not available that could perform those services.
(2) Prohibition.—Vessels operating under a waiver issued under this subsection may not engage in any coastwise transportation.
§12103. General eligibility requirements
(a) In General.—Except as otherwise provided, a certificate of documentation for a vessel may be issued under this chapter only if the vessel is—
(1) wholly owned by one or more individuals or entities described in subsection (b);
(2) at least 5 net tons as measured under part J of this subtitle; and
(3) not documented under the laws of a foreign country.
(b) Eligible Owners.—For purposes of subsection (a)(1), the following are eligible owners:
(1) An individual who is a citizen of the United States.
(2) An association, trust, joint venture, or other entity if—
(A) each of its members is a citizen of the United States; and
(B) it is capable of holding title to a vessel under the laws of the United States or a State.
(3) A partnership if—
(A) each general partner is a citizen of the United States; and
(B) the controlling interest in the partnership is owned by citizens of the United States.
(4) A corporation if—
(A) it is incorporated under the laws of the United States or a State;
(B) its chief executive officer, by whatever title, and the chairman of its board of directors are citizens of the United States; and
(C) no more of its directors are noncitizens than a minority of the number necessary to constitute a quorum.
[...]
§12113. Fishery endorsement
(a) Requirements.—A fishery endorsement may be issued for a vessel that—
(1) satisfies the requirements of section 12103 of this title and, if owned by an entity, the entity satisfies the ownership requirements in subsection (c); [...]
(b) Authorized Activity.—
(1) In general.—Subject to the laws of the United States regulating the fisheries, a vessel for which a fishery endorsement is issued may engage in the fisheries.
(2) Use by prohibited persons.—A fishery endorsement is invalid immediately if the vessel for which it is issued is used as a fishing vessel while it is chartered or leased to an individual who is not a citizen of the United States or to an entity that is not eligible to own a vessel with a fishery endorsement.
(c) Ownership Requirements for Entities.—
(1) In general.—A vessel owned by an entity is eligible for a fishery endorsement only if at least 75 percent of the interest in the entity, at each tier of ownership and in the aggregate, is owned and controlled by citizens of the United States.[...]" (Shipping Code (46 U.S.C. current through Pub. L. 117-49), §§ 108, 12102, 12103 and 12113)
Shipping Code (46 U.S.C. current through Pub. L. 117-49), §§ 12102, 12103 and 12113
[<a href="http://uscode.house.gov/view.xhtml?path=/prelim@title46&edition=prelim">Code</a>]