dreamproit/uscode huggingface dataset:
45 U.S.C. § 366a (RAILROADS)
§ 366a. Effect of Internal Revenue Code
The provisions of the Railroad Unemployment Insurance Act, as herein amended, shall be in full force and effect notwithstanding the enactment of the Internal Revenue Code.
(June 20, 1939, ch. 227, § 22, 53 Stat. 848.)
heading: References in Text
text: The Railroad Unemployment Insurance Act, referred to in text, is act June 25, 1938, ch. 680, 52 Stat. 1094, as amended, which is classified principally to this chapter. For complete classification of this Act to the Code, see section 367 of this title and Tables.
The Internal Revenue Code, referred to in text, probably means the Internal Revenue Code of 1939, which was generally repealed by section 7851 of the Internal Revenue Code of 1954, Title 26. The Internal Revenue Code of 1954 was redesignated the Internal Revenue Code of 1986 by Pub. L. 99–514, § 2, Oct. 22, 1986, 100 Stat. 2095. For table of comparisons of the 1939 Code to the 1986 Code, see Table I preceding section 1 of Title 26, Internal Revenue Code. See also section 7852(b) of Title 26 for provision that references in any other law to a provision of the 1939 Code, unless expressly incompatible with the intent thereof, shall be deemed a reference to the corresponding provision of the 1986 Code.
heading: Codification
text: Section was not enacted as a part of the Railroad Unemployment Insurance Act which comprises this chapter.
45 U.S.C. § 501...502 (RAILROADS)
§§ 501 to 502. Repealed. Pub. L. 103–272, § 7(b), July 5, 1994, 108 Stat. 1379
text: Section 501, Pub. L. 91–518, title I, § 101, Oct. 30, 1970, 84 Stat. 1328; Pub. L. 96–73, title I, § 102, Sept. 29, 1979, 93 Stat. 537; Pub. L. 97–35, title XI, § 1171, Aug. 13, 1981, 95 Stat. 687, related to congressional findings on needs for cost- and energy-efficient intercity rail passenger service. See section 24101 of Title 49, Transportation.
text: Section 501a, Pub. L. 91–518, title I, § 102, as added Pub. L. 96–73, title I, § 103(a), Sept. 29, 1979, 93 Stat. 537; amended Pub. L. 97–35, title XI, § 1172, Aug. 13, 1981, 95 Stat. 688, enumerated goals established by Congress for Amtrak. See section 24101 of Title 49.
text: A prior section 102 of Pub. L. 91–518 was renumbered section 103 and classified to section 502 of this title, prior to repeal by Pub. L. 103–272, § 7(b).
text: Section 502, Pub. L. 91–518, title I, § 103, formerly § 102, Oct. 30, 1970, 84 Stat. 1328; Pub. L. 93–146, § 2, Nov. 3, 1973, 87 Stat. 548; renumbered § 103 and amended Pub. L. 96–73, title I, §§ 103(a), 104, Sept. 29, 1979, 93 Stat. 537, 538; Pub. L. 97–35, title XI, § 1173, Aug. 13, 1981, 95 Stat. 689; Pub. L. 99–272, title IV, § 4012, Apr. 7, 1986, 100 Stat. 109; Pub. L. 102–533, § 8, Oct. 27, 1992, 106 Stat. 3519, defined terms for purposes of this chapter. See section 24102 of Title 49, Transportation.
heading: Short Title
text: Pub. L. 91–518, § 1, Oct. 30, 1970, 84 Stat. 1327, as amended by Pub. L. 93–496, § 12, Oct. 28, 1974, 88 Stat. 1531, provided that Pub. L. 91–518 (enacting this chapter and section 250 of Title 26, Internal Revenue Code, amending section 856 of former Title 31, Money and Finance, and enacting provision set out as a note under section 250 of Title 26) could be cited as the “Rail Passenger Service Act”, prior to repeal by Pub. L. 103–272, § 7(b), July 5, 1994, 108 Stat. 1379.
(RAILROADS)
§§ 521, 522. Repealed. Pub. L. 103–272, § 7(b), July 5, 1994, 108 Stat. 1379
text: Section 521, Pub. L. 91–518, title II, § 201, Oct. 30, 1970, 84 Stat. 1329, authorized report designating routes and basic service on intercity passenger system.
text: Section 522, Pub. L. 91–518, title II, § 202, Oct. 30, 1970, 84 Stat. 1329, directed review of preliminary report of Secretary designating the basic system.
45 U.S.C. § 561...563 (RAILROADS)
§§ 561 to 563. Repealed. Pub. L. 103–272, § 7(b), July 5, 1994, 108 Stat. 1379
text: Section 561, Pub. L. 91–518, title IV, § 401, Oct. 30, 1970, 84 Stat. 1334; Pub. L. 93–146, § 9, Nov. 3, 1973, 87 Stat. 551, related to assumption of intercity rail passenger service by National Railroad Passenger Corporation. See section 24701 of Title 49, Transportation.
text: Section 562, Pub. L. 91–518, title IV, § 402, Oct. 30, 1970, 84 Stat. 1335; Pub. L. 92–316, § 5, June 22, 1972, 86 Stat. 229; Pub. L. 93–146, § 10, Nov. 3, 1973, 87 Stat. 552; Pub. L. 94–210, title VII, § 706(a), (h), formerly § 705(a), (h), Feb. 5, 1976, 90 Stat. 123, 125, renumbered Pub. L. 96–254, title II, § 206(a), May 30, 1980, 94 Stat. 412; Pub. L. 95–421, § 15, Oct. 5, 1978, 92 Stat. 929; Pub. L. 96–73, title I, § 114, Sept. 29, 1979, 93 Stat. 542; Pub. L. 96–254, title II, § 216, May 30, 1980, 94 Stat. 418; Pub. L. 97–35, title XI, §§ 1181, 1188(c), Aug. 13, 1981, 95 Stat. 693, 699; Pub. L. 99–272, title IV, §§ 4006, 4017(b), Apr. 7, 1986, 100 Stat. 107, 110; Pub. L. 101–641, § 9(a), Nov. 28, 1990, 104 Stat. 4658, related to facilities and service agreements. See sections 24308, 24311, and 24903 of Title 49.
text: Section 563, Pub. L. 91–518, title IV, § 403, Oct. 30, 1970, 84 Stat. 1335; Pub. L. 92–316, § 6, June 22, 1972, 86 Stat. 229; Pub. L. 93–146, § 11(a), Nov. 3, 1973, 87 Stat. 553; Pub. L. 93–496, § 5, Oct. 28, 1974, 88 Stat. 1527; Pub. L. 94–25, §§ 5, 6, May 26, 1975, 89 Stat. 90; Pub. L. 94–210, title VII, § 706(c), (i), formerly § 705(c), (i), Feb. 5, 1976, 90 Stat. 124, 125, renumbered Pub. L. 96–254, title II, § 206(a), May 30, 1980, 94 Stat. 412; Pub. L. 94–555, title I, § 107, Oct. 19, 1976, 90 Stat. 2616; Pub. L. 95–421, §§ 16–18, Oct. 5, 1978, 92 Stat. 929, 930; Pub. L. 96–73, title I, § 115, Sept. 29, 1979, 93 Stat. 542; Pub. L. 96–254, title II, § 213, May 30, 1980, 94 Stat. 417; Pub. L. 96–448, title V, § 508(f), Oct. 14, 1980, 94 Stat. 1958; Pub. L. 97–35, title XI, §§ 1182(a), 1183(e), Aug. 13, 1981, 95 Stat. 693, 697; Pub. L. 99–272, title IV, § 4014(a)(1), Apr. 7, 1986, 100 Stat. 109; Pub. L. 102–533, §§ 7(b), 10, Oct. 27, 1992, 106 Stat. 3519, 3520, related to State supported institution or retention of rail passenger service. See sections 24703, 24704, and 24708 of Title 49.
(RAILROADS)
§§ 565, 566. Repealed. Pub. L. 103–272, § 7(b), July 5, 1994, 108 Stat. 1379
text: Section 565, Pub. L. 91–518, title IV, § 405, Oct. 30, 1970, 84 Stat. 1337; Pub. L. 92–316, §§ 7, 8, June 22, 1972, 86 Stat. 230; Pub. L. 96–73, title I, § 120(a), Sept. 29, 1979, 93 Stat. 547; Pub. L. 97–35, title XI, §§ 1177(b), 1184, 1188(d), Aug. 13, 1981, 95 Stat. 692, 697, 699; Pub. L. 99–272, title IV, § 4016, Apr. 7, 1986, 100 Stat. 110, related to protective arrangements for railroad employees. See sections 24307, 24312, and 24706 of Title 49, Transportation.
text: Section 566, Pub. L. 91–518, title IV, § 406, as added Pub. L. 96–73, title I, § 121, Sept. 29, 1979, 93 Stat. 548, related to retention and maintenance of facilities. See section 24309 of Title 49.
(RAILROADS)
§§ 621, 622. Repealed. Pub. L. 99–272, title IV, § 4007(c), Apr. 7, 1986, 100 Stat. 108
text: Section 621, Pub. L. 91–518, title VII, § 701, Oct. 30, 1970, 84 Stat. 1339; Pub. L. 94–25, § 12, May 26, 1975, 89 Stat. 93, provided for interim authority to provide emergency financial assistance for railroads operating passenger service.
text: Section 622, Pub. L. 91–518, title VII, § 702, Oct. 30, 1970, 84 Stat. 1339, authorized appropriations for this subchapter.
45 U.S.C. § 642...644 (RAILROADS)
§§ 642 to 644. Repealed. Pub. L. 103–272, § 7(b), July 5, 1994, 108 Stat. 1379
text: Section 642, Pub. L. 91–518, title VIII, § 802, Oct. 30, 1970, 84 Stat. 1340, prohibited discontinuance of intercity rail passenger service other than in accordance with provisions of this chapter. See section 24705 of Title 49, Transportation.
text: Section 643, Pub. L. 91–518, title VIII, § 803, Oct. 30, 1970, 84 Stat. 1340, related to separability of provisions of this chapter.
text: Section 644, Pub. L. 91–518, title VIII, § 805, Oct. 30, 1970, 84 Stat. 1340; Pub. L. 92–316, § 11, June 22, 1972, 86 Stat. 233; Pub. L. 93–496, § 11, Oct. 28, 1974, 88 Stat. 1531; Pub. L. 99–272, title IV, § 4007(a), Apr. 7, 1986, 100 Stat. 108, related to records and audit of National Railroad Passenger Corporation and certain railroads. See section 24315 of Title 49, Transportation.
45 U.S.C. § 646...650c (RAILROADS)
§§ 646 to 650c. Repealed. Pub. L. 103–272, § 7(b), July 5, 1994, 108 Stat. 1379
text: Section 646, Pub. L. 91–518, title VIII, § 807, as added Pub. L. 95–421, § 13, Oct. 5, 1978, 92 Stat. 929, related to development and implementation of a Railroad Safety System Program. See section 24313 of Title 49, Transportation.
text: Section 647, Pub. L. 91–518, title VIII, § 808, as added Pub. L. 96–73, title I, § 123, Sept. 29, 1979, 93 Stat. 551, related to composition and duties of Employee Compensation and Incentive Commission.
text: Section 648, Pub. L. 91–518, title VIII, § 809, as added Pub. L. 96–73, title I, § 124, Sept. 29, 1979, 93 Stat. 551, related to development of Model Job Placement Program to accommodate employees displaced by route restructuring.
text: Section 649, Pub. L. 91–518, title VIII, § 810, as added Pub. L. 101–322, § 3, July 6, 1990, 104 Stat. 295, related to incentives for passenger service operating agreements. See section 26102 of Title 49, Transportation.
text: A prior section 649, Pub. L. 91–518, title VIII, § 810, as added Pub. L. 96–73, title I, § 125, Sept. 29, 1979, 93 Stat. 552, provided for a study of payment of taxes by Corporation to State and local governments, prior to repeal by Pub. L. 99–272, title IV, § 4007(b), Apr. 7, 1986, 100 Stat. 108.
text: Section 650, Pub. L. 91–518, title VIII, § 811, as added Pub. L. 102–533, § 2, Oct. 27, 1992, 106 Stat. 3515, related to elimination of all highway at-grade crossings on main line of the Northeast Corridor, except where elimination deemed impracticable or unnecessary. See section 24906 of Title 49, Transportation.
text: A prior section 650, Pub. L. 91–518, title VIII, § 811, as added Pub. L. 96–73, title I, § 126, Sept. 29, 1979, 93 Stat. 552, provided for a report to Congress on the ratio of revenue to expenses, prior to repeal by Pub. L. 99–272, title IV, § 4007(b), Apr. 7, 1986, 100 Stat. 108.
text: Section 650a, Pub. L. 100–342, § 18(g), June 22, 1988, 102 Stat. 637, related to petitions by National Railroad Passenger Corporation seeking relocation or other remedial assistance for dangerous conditions, and recommendations by Secretary to Congress to fund such measures.
text: Section 650b, Pub. L. 91–518, title VIII, § 812, as added Pub. L. 102–533, § 3, Oct. 27, 1992, 106 Stat. 3515, directed National Railroad Passenger Corporation to develop and report to Congress its plans for experimentation with new technologies. See section 24314 of Title 49, Transportation.
text: Section 650c, Pub. L. 91–518, title VIII, § 813, as added Pub. L. 102–533, § 9, Oct. 27, 1992, 106 Stat. 3520, directed National Railroad Passenger Corporation to assist in and report to Congress on high-speed rail corridor development outside the Northeast Corridor.
(RAILROADS)
§§ 650d, 650e. Repealed. Pub. L. 103–429, § 8(6), Oct. 31, 1994, 108 Stat. 4390
text: Section 650d, Pub. L. 91–518, title VIII, § 814, as added Pub. L. 102–533, § 11, Oct. 27, 1992, 106 Stat. 3520, related to formation of task force to consider recommendations on emergency training and response and to report to Congress not later than June 1, 1993.
text: Section 650e, Pub. L. 91–518, title VIII, § 815, as added Pub. L. 102–533, § 13, Oct. 27, 1992, 106 Stat. 3522, directed National Railroad Passenger Corporation to develop comprehensive plan for New York City station facilities.
45 U.S.C. § 651...658 (RAILROADS)
§§ 651 to 658. Repealed. Pub. L. 103–272, § 7(b), July 5, 1994, 108 Stat. 1379
text: Section 651, Pub. L. 91–518, title X, § 1001, as added Pub. L. 96–254, title II, § 212, May 30, 1980, 94 Stat. 415; amended H. Res. 549, Mar. 25, 1980, required Secretary to develop and submit to Congress a proposed method for evaluating rail passenger corridors, ranking those with greatest potential.
text: Section 652, Pub. L. 91–518, title X, § 1002, as added Pub. L. 96–254, title II, § 212, May 30, 1980, 94 Stat. 415, directed National Railroad Passenger Corporation to develop design and engineering plans for rail corridors in consultation with Secretary and rail carriers owning facilities to be used in the corridors.
text: Section 653, Pub. L. 91–518, title X, § 1003, as added Pub. L. 96–254, title II, § 212, May 30, 1980, 94 Stat. 416; amended H. Res. 549, Mar. 25, 1980, provided for submission of final corridor evaluation to Congress.
text: Section 654, Pub. L. 91–518, title X, § 1004, as added Pub. L. 96–254, title II, § 212, May 30, 1980, 94 Stat. 416, directed National Railroad Passenger Corporation to acquire equipment necessary to provide service in rail passenger corridors.
text: Section 655, Pub. L. 91–518, title X, § 1005, as added Pub. L. 96–254, title II, § 212, May 30, 1980, 94 Stat. 416, directed Secretary to encourage private sector development of potential rail passenger corridors by removing institutional barriers and coordinating funding.
text: Section 656, Pub. L. 91–518, title X, § 1006, as added Pub. L. 96–254, title II, § 212, May 30, 1980, 94 Stat. 417, related to speed restrictions imposed on Amtrak trains by State or local governments.
text: Section 657, Pub. L. 91–518, title X, § 1007, as added Pub. L. 96–254, title II, § 212, May 30, 1980, 94 Stat. 417, related to provision of service between corridors to increase ridership.
text: Section 658, Pub. L. 91–518, title X, § 1008, as added Pub. L. 96–254, title II, § 212, May 30, 1980, 94 Stat. 417, authorized appropriations for evaluation of corridors, acquisition of equipment, and private sector development.
(RAILROADS)
§§ 824, 825. Repealed. Pub. L. 105–178, title VII, § 7203(a)(1), (2), June 9, 1998, 112 Stat. 471, 477
text: Section 824, Pub. L. 94–210, title V, § 504, Feb. 5, 1976, 90 Stat. 70; Pub. L. 94–555, title II, §§ 216(c), 220(d), Oct. 19, 1976, 90 Stat. 2627, 2629, related to capital needs study to be submitted to Secretary.
text: Section 825, Pub. L. 94–210, title V, § 505, Feb. 5, 1976, 90 Stat. 71; Pub. L. 94–555, title II, §§ 212, 216(a), Oct. 19, 1976, 90 Stat. 2624, 2626; Pub. L. 95–565, § 5, Nov. 1, 1978, 92 Stat. 2400; Pub. L. 95–607, title III, §§ 301(a), 302, Nov. 8, 1978, 92 Stat. 3066; Pub. L. 95–620, title VIII, § 803(c)(5), (6), Nov. 9, 1978, 92 Stat. 3347, 3348; Pub. L. 96–73, title IV, § 401, Sept. 29, 1979, 93 Stat. 557; Pub. L. 96–101, §§ 16, 24(a), Nov. 4, 1979, 93 Stat. 744, 747; Pub. L. 96–254, title I, § 112, May 30, 1980, 94 Stat. 404; Pub. L. 96–448, title IV, §§ 404, 405(a)(1), (c)(1), (2), (4), (5), 406, title VII, § 701(d), Oct. 14, 1980, 94 Stat. 1945–1947, 1961; Pub. L. 97–35, title XI, § 1162(a), (c), (d), Aug. 13, 1981, 95 Stat. 683, 684; Pub. L. 97–468, title IV, §§ 401, 403(b), Jan. 14, 1983, 96 Stat. 2550, 2551; Pub. L. 99–509, title IV, § 4033(c)(3), Oct. 21, 1986, 100 Stat. 1908; Pub. L. 104–88, title III, § 330(2), Dec. 29, 1995, 109 Stat. 953, related to rehabilitation and improvement financing.
45 U.S.C. § 826...830 (RAILROADS)
§§ 826 to 830. Repealed. Pub. L. 105–178, title VII, § 7203(a)(2), June 9, 1998, 112 Stat. 477
text: Section 826, Pub. L. 94–210, title V, § 506, Feb. 5, 1976, 90 Stat. 73; Pub. L. 94–555, title II, §§ 213, 214, Oct. 19, 1976, 90 Stat. 2624, 2625; Pub. L. 96–448, title IV, § 405(c)(3)(A), (C), Oct. 14, 1980, 94 Stat. 1946, 1947, related to redeemable preference shares.
text: Section 827, Pub. L. 94–210, title V, § 507, Feb. 5, 1976, 90 Stat. 74; Pub. L. 95–607, title III, § 301(b), Nov. 8, 1978, 92 Stat. 3066; Pub. L. 96–73, title IV, § 401, Sept. 29, 1979, 93 Stat. 557; Pub. L. 96–448, title IV, §§ 404, 405(a)(2), (c)(3)(B), Oct. 14, 1980, 94 Stat. 1945, 1946; Pub. L. 97–468, title IV, § 401, Jan. 14, 1983, 96 Stat. 2550, related to fund anticipation notes.
text: Section 828, Pub. L. 94–210, title V, § 508, Feb. 5, 1976, 90 Stat. 74, related to fund bonds.
text: Section 829, Pub. L. 94–210, title V, § 509, Feb. 5, 1976, 90 Stat. 76; Pub. L. 94–555, title II, § 216(d), Oct. 19, 1976, 90 Stat. 2627; Pub. L. 95–607, title III, § 301(c), Nov. 8, 1978, 92 Stat. 3066; Pub. L. 96–73, title IV, § 401, Sept. 29, 1979, 93 Stat. 557; Pub. L. 96–448, title IV, §§ 404, 405(a)(2), (b)(1), Oct. 14, 1980, 94 Stat. 1945; Pub. L. 97–35, title XI, § 1162(e), (f), Aug. 13, 1981, 95 Stat. 684, 685; Pub. L. 97–468, title IV, §§ 401, 403(a), Jan. 14, 1983, 96 Stat. 2550, 2551; Pub. L. 99–509, title IV, § 4033(c)(4), Oct. 21, 1986, 100 Stat. 1909; Pub. L. 104–88, title III, § 330(3), Dec. 29, 1995, 109 Stat. 953, related to authorization of appropriations, purchases, transfer of funds, and restrictions.
text: Section 830, Pub. L. 94–210, title V, § 510, Feb. 5, 1976, 90 Stat. 76; Pub. L. 104–88, title III, § 330(4), Dec. 29, 1995, 109 Stat. 953, related to exemption of redeemable preference shares from certain Federal and State securities provisions.
45 U.S.C. § 832...834 (RAILROADS)
§§ 832 to 834. Repealed. Pub. L. 105–178, title VII, § 7203(a)(2), June 9, 1998, 112 Stat. 477
text: Section 832, Pub. L. 94–210, title V, § 512, Feb. 5, 1976, 90 Stat. 79, related to issuance of notes or obligations.
text: Section 833, Pub. L. 94–210, title V, § 513, Feb. 5, 1976, 90 Stat. 80, related to default on guaranteed obligations.
text: Section 834, Pub. L. 94–210, title V, § 514, Feb. 5, 1976, 90 Stat. 81, related to audit of transactions.
(RAILROADS)
§§ 837, 838. Repealed. Pub. L. 105–178, title VII, § 7203(a)(2), June 9, 1998, 112 Stat. 477
text: Section 837, Pub. L. 94–210, title V, § 517, Feb. 5, 1976, 90 Stat. 83, related to intercity rail passenger service.
text: Section 838, Pub. L. 94–210, title V, § 518, as added Pub. L. 102–533, § 12(a), Oct. 27, 1992, 106 Stat. 3521, related to Columbus and Greenville Railway.
45 U.S.C. § 853...855 (RAILROADS)
§§ 853 to 855. Repealed. Pub. L. 103–272, § 7(b), July 5, 1994, 108 Stat. 1379
text: Section 853, Pub. L. 94–210, title VII, § 703, Feb. 5, 1976, 90 Stat. 121; Pub. L. 95–421, §§ 5, 8, Oct. 5, 1978, 92 Stat. 926, 927; Pub. L. 96–254, title II, §§ 202, 203, 209, May 30, 1980, 94 Stat. 410, 414; Pub. L. 97–468, title III, § 301(1), Jan. 14, 1983, 96 Stat. 2547; Pub. L. 99–272, title IV, § 4007(d), Apr. 7, 1986, 100 Stat. 108, enumerated goals of Northeast Corridor improvement project. See section 24902 of Title 49, Transportation.
text: Section 854, Pub. L. 94–210, title VII, § 704, Feb. 5, 1976, 90 Stat. 122; Pub. L. 94–555, title II, § 217, Oct. 19, 1976, 90 Stat. 2627; Pub. L. 95–421, § 9, Oct. 5, 1978, 92 Stat. 928; Pub. L. 96–254, title II, §§ 204(a), (b), 210, May 30, 1980, 94 Stat. 411, 414; Pub. L. 97–35, title XI, § 1193, Aug. 13, 1981, 95 Stat. 701; Pub. L. 97–468, title III, § 301(2)–(4), Jan. 14, 1983, 96 Stat. 2548, 2549; Pub. L. 100–342, § 6, June 22, 1988, 102 Stat. 627, related to funding of Northeast Corridor improvement project. See sections 24902, 24903, 24907, and 24909 of Title 49.
text: Section 855, Pub. L. 94–210, title VII, § 705, as added Pub. L. 96–254, title II, § 206(a), May 30, 1980, 94 Stat. 412; amended Pub. L. 97–468, title III, § 301(5), Jan. 14, 1983, 96 Stat. 2550, related to transfers of authority with respect to track improvements and implementation of Northeast Corridor improvement project goals. See sections 24902, 24903, and 24909 of Title 49.
45 U.S.C. § 1322 (RAILROADS)
§ 1322. Ownership limitations
(a) General
(1) During a period of 3 years beginning on the sale date, no person, directly or indirectly, may acquire or hold securities representing more than 10 percent of the total votes of all outstanding voting securities of the Corporation.
(2) This subsection shall not apply—
(A) to the employee stock ownership plan (or successor plans) of the Corporation,
(B) to the Secretary of Transportation,
(C) to a railroad as described under subsection (b),
(D) to underwriting syndicates holding shares for resale, or
(E) in the case of shares beneficially held for others, to commercial banks, broker-dealers, clearing corporations, or other nominees.
(b) Railroads
(1) During a period of 1 year beginning on the sale date, no railroad may purchase or hold, directly or indirectly, more than 10 percent of any class of stock of the Corporation. During such period, no railroad may file an application with the Commission for a merger or consolidation with the Corporation or the acquisition of control of the Corporation under section 11344 1 of title 49.
(2) During a period of 3 years beginning on the sale date, any railroad which purchases or holds any stock of the Corporation shall vote such stock in the same proportion as all other common stock of the Corporation is voted. After the expiration of 1 year after the sale date, the preceding sentence shall not apply to any railroad with respect to which the Commission has approved an application for a merger or consolidation with the Corporation or the acquisition of control of the Corporation under section 11344 1 of title 49.
(3) As used in this subsection, the term “railroad” means a class I railroad as determined by the Commission under the definition in effect on October 21, 1986, and includes any entity controlling, controlled by, or under common control with any railroad (other than the Corporation or its subsidiaries).
(Pub. L. 99–509, title IV, § 4022, Oct. 21, 1986, 100 Stat. 1900.)
heading: References in Text
text: Section 11344 of title 49, referred to in subsec. (b)(1), (2), was omitted in the general amendment of subtitle IV of Title 49, Transportation, by Pub. L. 104–88, title I, § 102(a), Dec. 29, 1995, 109 Stat. 804. Provisions similar to those in section 11344 are contained in sections 11324 and 14303 of Title 49.
heading: Abolition of Interstate Commerce Commission and Transfer of Functions
text: Interstate Commerce Commission abolished and functions of Commission transferred, except as otherwise provided in Pub. L. 104–88, to Surface Transportation Board effective Jan. 1, 1996, by section 1302 of Title 49, Transportation, and section 101 of Pub. L. 104–88, set out as a note under section 1301 of Title 49. References to Interstate Commerce Commission deemed to refer to Surface Transportation Board, a member or employee of the Board, or Secretary of Transportation, as appropriate, see section 205 of Pub. L. 104–88, set out as a note under section 1301 of Title 49.