Certification Requirements

On the national level this is dealt with by the USCG. USCG does not require licenses on privately operated yachts regardless of size. Basically they let the insurance companies regulate that. For the most part, unless you have a long boating history with upgrading/sizing boats, they will require a license on anything over 65'-72' depending on the company.

That's not totally correct. There are fishery and towing vessels that while they do not take passengers, do require licenses. They used to have an OUTV (Operator Uninspected Towing Vessel) which was restricted to 200 ton and OUFV (Op. Un. Fishing Vessel) which was restricted to 1600 ton. Neither of these licenses allowed Pax operations. I don't know if they still exist, there was word that they were being done away with, and considering my last issue has a Master of Towing Vessels endorsement on it, I think they may have done away with the OUTV. There is also a 3000grt/6000gt OSV license that allows passengers, but only for the people working on the projects being supported.

You also don't need to be the owner or operator of a pleasure yacht in order to not be required a license to operate it. Any unlicensed person can be the captain of any yacht without a license, doesn't have to belong to them.

Aside from several debates that will ensue, the short answer is no. If it's a private boat, you need not get a captains license. The minute someone gives you a dollar for taking them somewhere in your boat, that changes.

It's highly recommended however that you get an insurance policy on it. Many more marinas these days are requiring them for boats in their docks. Check with your local marina.

Enjoy the boat! The Eastbay is a well proven boat. Should provide much enjoyment.

http://nasbla.org/i4a/pages/index.cfm?pageid=3439

If you are not operating for hire you don't need to worry about USCG licensing.

One last thing, if you have a lender / loan on the boat, you'll have to insure it to protect the lenders position on it. Paid full in cash, none, other than the marina requirements noted above.

Just one side note: That dollar can come in the form of barter, i.e. pays for gas or even brings the beer. I'm sure the CG would never make such a fine point, however someone's lawyer might if anyone got hurt. I would assume that anyone buying a 47 Eastbay is fairly experienced, which translates into the insurance company probably not requiring the use of a captain. If you do decide to go for your license check some of the threads on that subject here on YF before you do. You may find that it is not worth doing.