### Question
How is the term obligee defined?


### Answer
The term **obligee** is defined in *APPENDIX U.S.C. § 1271* as the following:

> the holder of an obligation;

#### Citation:
  - *APPENDIX U.S.C. § 1271*
  - Heading: **CHAPTER 27-MERCHANT MARINE ACT, 1936 > SUBCHAPTER XI-FEDERAL SHIP MORTGAGE INSURANCE**

