Indiana § 8-3-22-9 Withdrawal from compact; default; termination of compact

Indiana Statutes

§ 8-3-22-9 — Withdrawal from compact; default; termination of compact

Indiana·Art. 3 RAILROADS GENERALLY·Ch. 22 Midwest Interstate Passenger Rail Compact

(a)Withdrawal from this compact shall be by enactment of a statute repealing the compact and takes effect one (1) year after the effective date of the statute.

(b)A withdrawing state is liable for any obligations that the withdrawing state may have incurred before the effective date of withdrawal.

(c)If, at any time, a compacting state defaults in the performance of any of its obligations, assumed or imposed, in accordance with the provisions of this compact, all rights, privileges, and benefits conferred by this compact or agreements under the compact shall be suspended from the effective date of the compacting state's default, as fixed by the commission.

(d)The commission shall stipulate the conditions and maximum time for compliance under which the defaulting state may resume its re

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(a) Withdrawal from this compact shall be by
enactment of a statute repealing the compact and takes effect one (1)
year after the effective date of the statute.
(b) A withdrawing state is liable for any obligations that the
withdrawing state may have incurred before the effective date of
withdrawal.
(c) If, at any time, a compacting state defaults in the performance of
any of its obligations, assumed or imposed, in accordance with the
provisions of this compact, all rights, privileges, and benefits conferred
by this compact or agreements under the compact shall be suspended
from the effective date of the compacting state's default, as fixed by the
commission.
(d) The commission shall stipulate the conditions and maximum
time for compliance under which the defaulting state may resume its
regular status.
(e) Unless the default is remedied under the stipulations and within
the time set forth by the commission, this compact may be terminated
with respect to the defaulting state by affirmative vote of a majority of
the other commission members.
(f) A defaulting state may be reinstated, upon vote of the
commission, by performing all acts and obligations as stipulated by the
commission.

Indiana § 8-3-22-9 (Withdrawal from compact; default; termination of compact) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.