Actions to recover indemnity for collisions shall prescribe after two years from the accident.
These actions shall not be admissible if the proper settlement should not have been made by the captain of the vessel damaged, or by the persons discharging his duties, at the first port which may be made, in accordance with cases 8 and 15 of § 594 of the Commerce Code, 1932, when they may occur.
History —Commerce Code, 1932, § 949.