I had the same question on my 200 Osprey. Every boat I ever owned that had a below the water line fitting, had some sort of sea cock (valve). I thought this was Coast Guard regulation. Pretty scary!! If that hose blows out or comes disconnected your sunk. Maybe there is one but I cant find it. And if you cant find easily, its basically no good in an emergency.
So do I!!!The fitting is white, nylon I guess, and the boat sits on a cradle in my backyard except when I swing it out on the davits.It does seem that the outlet line from the bait well to the fitting runs downhill but I would be more comfortable if the fitting was higher.Something that needs to be watched.