§ 3.11   Location of settlement operation.

   (a) Within the United States. A certified accounting authority
   maintaining all settlement operations, as well as associated
   documentation, within the United States will be assigned an AAIC with a
   "US" prefix.

   (b) Outside the United States. A certified accounting authority
   maintaining settlement operations outside the United States will be
   assigned the same AAIC as that originally assigned to such entity by
   the administration of the country of origin. However, in no case will
   an entity be certified as an accounting authority for settlement of
   U.S. licensed vessel accounts unless the entity is requesting to
   conduct a settlement operation in the United States or has already been
   issued an AAIC by another administration.

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Application Procedures

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