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49 U.S.C. § 11325 — Consolidation, merger, and acquisition of control: procedure
Federal law — U.S. Code and appendices · legal_authorities
**(a)** The Board shall publish notice of the application under section 11324 in the Federal Register by the end of the 30th day after the application is filed with the Board. However, if the application is incomplete, the Board shall reject it by the end of that period. The order of rejection is a final action of the Board. The published notice shall indicate whether the application involves—
(1) the merger or control of at least two Class I railroads, as defined by the Board, to be decided within the time limits specified in subsection (b) of this section;
(2) transactions of regional or national transportation significance, to be decided within the time limits specified in subsection (c) of this section; or
(3) any other transaction covered by this section, to be decided within the time limits specified in subsection (d) of this section.
**(b)** If the application involves the merger or control of two or more Class I railroads, as defined by the Board, the following conditions apply:
(1) Written comments about an application may be filed with the Board within 45 days after notice of the application is published under subsection (a) of this section. Copies of such comments shall be served on the Attorney General and the Secretary of Transportation, who may decide to intervene as a party to the proceeding. That decision must be made by the 15th day after the date of receipt of the written comments, and if the decision is to intervene, preliminary comments about the application must be sent to the Board by the end of the 15th day after the date of receipt of the written comments.
(2) The Board shall require that applications inconsistent with an application, notice of which was published under subsection (a) of this section, and applications for inclusion in the t
Source: Supplied U.S. Code snapshot — release unconfirmed · 49 U.S.C. § 11325
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Stable record: federal_law:legal_authorities:record_usc_1db3a025080e6c754cf51840
Source file: Laws/federal/codes/united-states-code/title-49/section-11325-consolidation-merger-and-acquisition-of-control-procedure--005573cd7c.md
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Source location: Title 49, Chapter 113, § 11325; chapter-113-finance.md
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**(a)** The Board shall publish notice of the application under section 11324 in the Federal Register by the end of the 30th day after the application is filed with the Board. However, if the application is incomplete, the Board shall reject it by the end of that period. The order of rejection is a final action of the Board. The published notice shall indicate whether the application involves—
(1) the merger or control of at least two Class I railroads, as defined by the Board, to be decided within the time limits specified in subsection (b) of this section;
(2) transactions of regional or national transportation significance, to be decided within the time limits specified in subsection (c) of this section; or
(3) any other transaction covered by this section, to be decided within the time limits specified in subsection (d) of this section.
**(b)** If the application involves the merger or control of two or more Class I railroads, as defined by the Board, the following conditions apply:
(1) Written comments about an application may be filed with the Board within 45 days after notice of the application is published under subsection (a) of this section. Copies of such comments shall be served on the Attorney General and the Secretary of Transportation, who may decide to intervene as a party to the proceeding. That decision must be made by the 15th day after the date of receipt of the written comments, and if the decision is to intervene, preliminary comments about the application must be sent to the Board by the end of the 15th day after the date of receipt of the written comments.
(2) The Board shall require that applications inconsistent with an application, notice of which was published under subsection (a) of this section, and applications for inclusion in the transaction, be filed with it by the 90th day after publication of notice under that subsection.
(3) The Board must conclude evidentiary proceedings by the end of 1 year after the date of publication of notice under subsection (a) of this section. The Board must issue a final decision by the 90th day after the date on which it concludes the evidentiary proceedings.
**(c)** If the application involves a transaction other than the merger or control of at least two Class I railroads, as defined by the Board, which the Board has determined to be of regional or national transportation significance, the following conditions apply:
(1) Written comments about an application, including comments of the Attorney General and the Secretary of Transportation, may be filed with the Board within 30 days after notice of the application is published under subsection (a) of this section.
(2) The Board shall require that applications inconsistent with an application, notice of which was published under subsection (a) of this section, and applications for inclusion in the transaction, be filed with it by the 60th day after publication of notice under that subsection.
(3) The Board must conclude any evidentiary proceedings by the 180th day after the date of publication of notice under subsection (a) of this section. The Board must issue a final decision by the 90th day after the date on which it concludes the evidentiary proceedings.
**(d)** For all applications under this section other than those specified in subsections (b) and (c) of this section, the following conditions apply:
(1) Written comments about an application, including comments of the Attorney General and the Secretary of Transportation, may be filed with the Board within 30 days after notice of the application is published under subsection (a) of this section.
(2) The Board must conclude any evidentiary proceedings by the 105th day after the date of publication of notice under subsection (a) of this section. The Board must issue a final decision by the 45th day after the date on which it concludes the evidentiary proceedings.
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Establishment.—** The Surface Transportation Board is an independent establishment of the United States Government.
**(b) Membership.—**
(1) The Board shall consist of 5 members, to be appointed by the President, by and with the advice and consent of the Senate. Not more than 3 members may be appointed from the same political party.
(2) At all times—
(A) at least 3 members of the Board shall be individuals with professional standing and demonstrated knowledge in the fields of transportation, transportation regulation, or economic regulation; and
(B) at least 2 members shall be individuals with professional or business experience (including agriculture) in the private sector.
(3) The term of each member of the Board shall be 5 years and shall begin when the term of the predecessor of that member ends. An individual appointed to fill a vacancy occurring before the expiration of the term for which the predecessor of that individual was appointed, shall be appointed for the remainder of that term. When the term of office of a member ends, the member may continue to serve until a successor is appointed and qualified, but for a period not to exceed one year. The President may remove a member for inefficiency, neglect of duty, or malfeasance in office.
(4) No individual may serve as a member of the Board for more than 2 terms. In the case of an individual appointed to fill a vacancy occurring before the expiration of the term for which the predecessor of that individual was appointed, such individual may not be appointed for more than one additional term.
(5) A member of the Board may not have a pecuniary interest in, hold an official relation to, or own stock in or bonds of, a carrier providing transportation by any mode and may not engage in another busines
Source: Supplied U.S. Code snapshot — release unconfirmed · 49 U.S.C. § 1301
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Federal law — U.S. Code and appendices · legal_authorities
**(a)** A person may hold the position of officer or director of more than one rail carrier only when authorized by the Board. The Board may authorize a person to hold the position of officer or director of more than one of those carriers when public or private interests will not be adversely affected.
**(b)** This section shall not apply to an individual holding the position of officer or director only of Class III rail carriers.
Source: Supplied U.S. Code snapshot — release unconfirmed · 49 U.S.C. § 11328
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Federal law — U.S. Code and appendices · legal_authorities
Page 452
TITLE 49—TRANSPORTATION
§ 11325
Board finds their inclusion to be consistent with
the public interest.
(d) In a proceeding under this section which
does not involve the merger or control of at
least two Class I railroads, as defined by the
Board, the Board shall approve such an applica-
tion unless it finds that—
(1) as a result of the transaction, there is
likely to be substantial lessening of competi-
tion, creation of a monopoly, or restraint of
trade in freight surface transportation in any
region of the United States; and
(2) the anticompetitive effects of the trans-
action outweigh the public interest in meeting
significant transportation needs.
In making such findings, the Board shall, with
respect to any application that is part of a plan
or proposal developed under section 333(a)–(d) of
this title, accord substantial weight to any rec-
ommendations of the Attorney General.
(e) No transaction described in section 11326(b)
may have the effect of avoiding a collective bar-
gaining agreement or shifting work from a rail
carrier with a collective bargaining agreement
to a rail carrier without a collective bargaining
agreement.
(f)(1) To the extent provided in this sub-
section, a proceeding under this subchapter re-
lating to a transaction involving at least one
Class I rail carrier shall not be considered an ad-
judication required by statute to be determined
on the record after opportunity for an agency
hearing, for the purposes of subchapter II of
chapter 5 of title 5, United States Code.
(2) Ex parte communications, as defined in
section 551(14) of title 5, United States Code,
shall be permitted in proceedings described in
paragraph (1) of this subsection, subject to the
requirements of paragraph (3) of this subsection.
(3)(
Source: Supplied 2024 U.S. Code historical extraction · 49 U.S.C. § 11325
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