A quick Google search found this on
http://www.uscgboating.org:
FEDERAL LAW
183.568 - Anti-siphon protection
Each fuel line from the fuel tank to the fuel inlet connection on the carburetor must:
(a) Be above the level of the tank top; or
(b) Have an anti-siphon device or an electrically operated fuel stop valve:
(1) At the tank withdrawal fitting; or
(2) Installed so the line from the fuel tank is above the top of the tank; or
(c) Provided that the fuel tank top is below the level of the carburetor inlet, be metallic fuel lines meeting the construction requirements of Sec. 183.538 or "USCG Type A1" hose, with one or two manual shutoff valves installed as follows:
(1) Directly at the fuel tank connection arranged to be readily accessible for operation from outside the compartment, and
(2) If the length of fuel line from the tank outlet to the engine inlet is greater than 12 feet, a manual shutoff valve shall be installed at the fuel inlet connection to the engine.
"Anti-siphon protection" is a term applied to the means of preventing the siphon action of permitting fuel to continue to flow out of the fuel tank in the event there is a break or rupture in a fuel distribution line, or if a fitting in the fuel line loosens, creating a leak.
"Anti-siphon protection" may be accomplished by one or more of the following methods:
(a) Keep all parts of the fuel line from the fuel tank to the fuel line connection at the carburetor above the level of the top of the fuel tank. The tank top level is determined with the boat in its "static floating position." Practically, the fuel pump and fuel filter(s) must also be above the tank top.
(b) Install an anti-siphon device at the tank withdrawal fitting. The fuel distribution line may then run below the level of the tank top. A filter may be installed between the fuel tank withdrawal fitting and the anti-siphon device.