Commercial Maritime Law
Art. 41Status unknownSaudi ArabiaRegulation
Issued by Ministry of Investment (misa.gov.sa)
1. Any co-owner may dispose of his share without the consent of other owners,
unless such disposal causes the vessel to lose its Saudi nationality; in which
case, the consent of all owners shall be required.
2. An owner may not pledge his share in the vessel except with the consent of
owners holding at least three-quarters of the shares.
Commercial Maritime Law
3. An owner who has disposed of his share shall be liable for debts related to
co-ownership until the date such disposal is entered in the ship registry.
The Arabic text is the legally binding version. The English translation is provided for guidance only.
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