45 U.S.C. § 903 — Sales and transfers

FEDERAL · 45 U.S.C. · Chapter 18

Sales and transfers

Current through Pub. L. 119-102

Title 45 — Railroads·Ch. 18 — MILWAUKEE RAILROAD RESTRUCTURING

(a)The Milwaukee Railroad may negotiate and enter into agreements to sell, to another rail carrier or any other person, all or any portion of its rail properties used in railroad operations as of October 15, 1979. Such sale agreements may in no event become final and effective until the occurrence of an event described in section 920(b) of this title, or April 1, 1980, whichever first occurs. In taking action under this subsection, the Milwaukee Railroad may consult with the Secretary of Transportation.

(b)(1) The Secretary of Transportation, under the authority of section 333 of title 49, may develop plans, participate in negotiations, and recommend to the trustee proposals for the sale or transfer of any rail properties of the Milwaukee Railroad which are used in rail operations as of O

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(a) The Milwaukee Railroad may negotiate and enter into agreements to sell, to another rail carrier or any other person, all or any portion of its rail properties used in railroad operations as of October 15, 1979. Such sale agreements may in no event become final and effective until the occurrence of an event described in section 920(b) of this title, or April 1, 1980, whichever first occurs. In taking action under this subsection, the Milwaukee Railroad may consult with the Secretary of Transportation.
(b)(1) The Secretary of Transportation, under the authority of section 333 of title 49, may develop plans, participate in negotiations, and recommend to the trustee proposals for the sale or transfer of any rail properties of the Milwaukee Railroad which are used in rail operations as of October 15, 1979. In taking action under this paragraph, the Secretary shall give preference to financially responsible persons, including governmental entities, negotiating for the purchase of any lines with the intent of providing common carrier service.
(2) Any sale or transfer proposal developed under paragraph (1) of this subsection shall be submitted to the bankruptcy court. Such a proposal may in no event become final or effective until the occurrence of an event described in section 920(b) of this title, or April 1, 1980, whichever first occurs.

45 U.S.C. § 903 (Sales and transfers) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

In the Matter of Chicago, Milwaukee, St. Paul & Pacific Railroad Company, Debtor. Consolidated Appeals of Railway Labor Executives' Association, Intervenor. State of Wisconsin Department of Transportation, State of South Dakota, Port of Pend Oreille, Pend Oreille Valley Railroad Company, Inc., and Seattle and North Coast Railroad Company, Intervening

658 F.2d 1149 (Seventh Circuit, 1981)

35 case citations

In re Chicago, Milwaukee, St. Paul & Pacific Railroad

658 F.2d 1149 (Seventh Circuit, 1981)

11 case citations

Brown v. State

924 P.2d 908 (Washington Supreme Court, 1996)

2 case citations

Source Credit

History

(Pub. L. 96–101, §4, Nov. 4, 1979, 93 Stat. 737.)

Editorial Notes

Editorial Notes

Codification
In subsec. (b)(1), "section 333 of title 49" was substituted for "section 5(a)–(e) of the Department of Transportation Act [49 U.S.C. 1654(a)–(e)]", on authority of Pub. L. 97–449, §6(b), Jan. 12, 1983, 96 Stat. 2443, the first section of which enacted subtitle I (§101 et seq.) and chapter 31 (§3101 et seq.) of subtitle II of Title 49, Transportation.

Related

Source Credit

History

Editorial Notes