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49 U.S.C. § 24304 — Employee stock ownership plans
Federal law — U.S. Code and appendices · legal_authorities
In issuing stock pursuant to applicable corporate law, Amtrak is encouraged to include employee stock ownership plans.
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Source file: Laws/federal/codes/united-states-code/title-49/section-24304-employee-stock-ownership-plans--74c11569f7.md
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Source location: Title 49, Chapter 243, § 24304; chapter-243-amtrak.md
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In issuing stock pursuant to applicable corporate law, Amtrak is encouraged to include employee stock ownership plans.
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Federal law — U.S. Code and appendices · legal_authorities
### Statutory Notes
Section 541, Pub. L. 91–518, title III, § 301, Oct. 30, 1970, 84 Stat. 1330; Pub. L. 95–421, § 11, Oct. 5, 1978, 92 Stat. 928; Pub. L. 97–35, title XI, § 1188(a), Aug. 13, 1981, 95 Stat. 699; Pub. L. 100–342, § 18(a), June 22, 1988, 102 Stat. 636, authorized establishment of National Railroad Passenger Corporation. See sections 24101 and 24301 of Title 49, Transportation.
Section 542, Pub. L. 91–518, title III, § 302, Oct. 30, 1970, 84 Stat. 1330, related to Presidential appointment of incorporators to establish National Railroad Passenger Corporation.
Section 543, Pub. L. 91–518, title III, § 303, Oct. 30, 1970, 84 Stat. 1330; Pub. L. 92–316, § 1(a), June 22, 1972, 86 Stat. 227; Pub. L. 93–146, § 3(a), Nov. 3, 1973, 87 Stat. 548; Pub. L. 94–25, § 2, May 26, 1975, 89 Stat. 90; Pub. L. 94–210, title VII, § 706(f), formerly § 705(f), Feb. 5, 1976, 90 Stat. 124, renumbered Pub. L. 96–254, title II, § 206(a), May 30, 1980, 94 Stat. 412; Pub. L. 94–555, title I, § 103, Oct. 19, 1976, 90 Stat. 2615; Pub. L. 97–35, title XI, § 1174(a), Aug. 13, 1981, 95 Stat. 689; Pub. L. 97–216, title I, § 101, July 18, 1982, 96 Stat. 187; Pub. L. 100–342, § 18(b), (c), June 22, 1988, 102 Stat. 636, related to board of directors, officers, bylaws, and stock voting rights of National Railroad Passenger Corporation. See sections 24302 and 24303 of Title 49, Transportation.
Section 544, Pub. L. 91–518, title III, § 304, Oct. 30, 1970, 84 Stat. 1331; Pub. L. 93–496, § 2, Oct. 28, 1974, 88 Stat. 1526; Pub. L. 97–35, title XI, § 1175, Aug. 13, 1981, 95 Stat. 691; Pub. L. 99–272, title IV, § 4003, Apr. 7, 1986, 100 Stat. 107; Pub. L. 102–533, § 5, Oct. 27, 1992, 106 Stat. 3517, related to issuance by National Railroad Passenger Corporation of stock, bonds, and other certifica
Source: Supplied U.S. Code snapshot — release unconfirmed · 45 U.S.C. § 541 to 548
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Federal law — U.S. Code and appendices · legal_authorities
Page 677
TITLE 49—TRANSPORTATION
§ 24304
balanced representation of the major geographic re-
gions of the United States served by Amtrak’’.
Subsec. (a)(4) to (6). Pub. L. 117–58, § 22202(a)(4), added
pars. (4) to (6) and struck out former par. (4) which read
as follows: ‘‘The Board shall elect a chairman and a
vice chairman, other than the President of Amtrak,
from among its membership. The vice chairman shall
serve as chairman in the absence of the chairman.’’
Former par. (5) redesignated (7).
Subsec. (a)(7). Pub. L. 117–58, § 22202(a)(3), redesig-
nated par. (5) as (7).
2015—Subsec. (a)(1). Pub. L. 114–94, § 11205(1)(A), sub-
stituted ‘‘10 directors’’ for ‘‘9 directors’’.
Subsec. (a)(1)(B). Pub. L. 114–94, § 11205(1)(B), inserted
‘‘, who shall serve as a nonvoting member of the
Board’’ after ‘‘Amtrak’’.
Subsec. (a)(1)(C). Pub. L. 114–94, § 11205(1)(C), sub-
stituted ‘‘8’’ for ‘‘7’’.
Subsec. (e). Pub. L. 114–94, § 11205(2), inserted ‘‘who
are eligible to vote’’ after ‘‘serving’’.
2008—Pub. L. 110–432 amended section generally. Prior
to amendment, section related, in subsec. (a), to estab-
lishment, duties, membership, and confirmation proce-
dure of Reform Board, in subsec. (b), to selection of the
Board of Directors, and in subsec. (c), to authority of
Reform Board to recommend to Congress a plan to im-
plement transfer of Amtrak’s infrastructure assets and
responsibilities to a new separately governed corpora-
tion.
1997—Pub. L. 105–134 amended section generally. Prior
to amendment, section related, in subsec. (a), to com-
position and terms of Amtrak board of directors, in
subsec. (b), to cumulative voting by stockholders, in
subsec. (c), to conflicts of interest of directors, in sub-
sec. (d), to pay and expenses of directors, in subsec. (e)
Source: Supplied 2024 U.S. Code historical extraction · 49 U.S.C. § 24304
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