Commercial Maritime Law
Art. 60Status unknownSaudi ArabiaRegulation
Issued by Ministry of Investment (misa.gov.sa)
If a vessel is co-owned, it may be mortgaged upon the consent of owners
holding at least three-quarters of the shares. If there is no such majority, the
Commercial Maritime Law
matter may be referred to the competent court to issue a decision consistent
with the co-owners’ interests.
The Arabic text is the legally binding version. The English translation is provided for guidance only.
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