that's the reason i just changed out my rusting steering arm. i have been on borrowed time for about 3 years. i was talking to a guy at a local west marine the other day with a 21' lake & bay flats boat with a 250 HO. they were doing about 60 in the gulf during a redfish tournament when the steering bolt on a hyd system dropped out of the steering arm(jam nut came loose). threw both of them in the gulf and boat did a hard left turn. he had the kill switch on and it saved the day.
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