Yes, there is. But, at 300+ NM from shore that boat is in International waters. If they're not flying a home port flag they're fair game. If they ARE flying a home port flag, it then depends on the country where the ship is registered. If they're registered in Costa Rica, or Columbia, Nicaragua... and such, the U.S. has treaties with those nations that give the USCG permission to board their vessels at sea, in international waters or for some, even within the territorial water of that country. It varies.
Oh yeah. That hadn't occurred to me. Gotta wonder how many "pirates" or competing drug cartels even, might be lurking around these waters in hopes of doing a little interdiction of their own. What a payday!