PART 351—DEPOSITORIES Authority: Sec. 204, 49 Stat. 1987, as amended; 46 U.S.C. 1114. § 351.1 Purpose. The purpose of this part is to set forth the criteria necessary for depositories of funds under all programs authorized by the Merchant Marine Act, 1936, as amended (46 U.S.C. 1101 et seq. [38 FR 8061, Mar. 28, 1973] § 351.2 Qualification of depository. (a) General qualification. (b) Limitation on amount of deposits. [38 FR 8061, Mar. 28, 1973, as amended at 63 FR 55039, Oct. 14, 1998]