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A: It’s designed to lay flat. If you bolt it to the dock tightly it can stand straight up and down, but there is nothing but tension holding it there and it would fall eventually. I suppose you could rig some type of bungee on either side to hold it upright. When I remove mine from water I let it stand straight for a minute or so to fully drain the water out of it.
A: It does not need to touch bottom. It was not designed to.
A: It is attached entirely to the deck, no bottom support needed. It is a little difficult to fold back out if the water, a rope attached to the bottom step will help with this. I use mine on my above ground pool attached to the deck. Much better than all other options I have tried.