Title 24 of the Code of the Federal States of Micronesia on marine resources.

The Title is divided into 7 Chapters: General (containing, inter alia, provisions on fishing permits, allocations, reporting requirements and fishing for special purposes) (I); Domestic Fishing (containing, inter alia, provisions on registration and allocations of quotas) (II); Management Authority (Micronesian Fisheries Authority) (III); Foreign Fishing (containing, inter alia, provisions on foreign fishing agreements and allocations)(IV); Violations and Penalties (V); State Entities for the Development of Marine Resources(VI); National Fisheries Corporation (VII).
"Fish" is defined in section 102 as "any living marine resource". "Fishery waters" means the EEZ, the territorial sea and the internal waters as described in Title 18 of the Code. Section 103 provides for fishing permits for domestic, domestic-based, commercial pilot fishing and fishing by foreigners in the EEZ. Section 104 provides for non-commercial fishing permits. The Micronesian Maritime Authority established under section 301 may establish the total allowable levels of fishing with respect to any stock of fish, and may determine allocations of catch quotas. In determining allocations, domestic vessels shall be given preference over domestic-based fishing vessels which in turn shall have preference over foreign vessels. Section 116 outlines in details reporting requirements. Section 403 provides for the allocation of allowable fishing to foreign fishing vessels. Section 404 outlines terms which shall compulsorily be included in foreign fishing agreements. Allocation to domestic-based vessels shall be made pursuant to section 407.