No,,,,,,,,,,,,,,,,,,,,,,,, however having a drain plug is the easiest way to comply with other laws. Specifically the laws/regulations concerning transportation of aquatic invasive species. Many states now require that anything which
can hold water, be
empty of water (and "dry") before one can leave the ramp access. This includes among other things, cooler, bait buckets, live wells, bilge areas, etc. Provided one can show that the bilge is void of water, one does not need an actual drain plug. Just a bilge pump is not sufficient, one would need to sponge out any remaining water.
Your state, and your local compliance officers may vary as to strictness of enforcement.
BTW, a threaded drain plug can be a royal pain in the behind, anytime there can be debris in the bilge water, which is always, even on a fishing boat. Couple that with freezing temps, sheesh. At that point in time,
my drain plug becomes cosmetic only.