45 U.S.C. § 903 — Sales and transfers

Page 225 TITLE 45—RAILROADS § 904 1 See References in Text note below. 2 So in original. Probably should be ‘‘interests’’. L. 104–88, set out as a note under section 1301 of Title 49.] § 902. Definitions As used in this chapter— (1) the term ‘‘bankruptcy court’’ means the court having jurisdiction over the reorganiza- tion of the Milwaukee Railroad; (2) the term ‘‘Board’’ means the Railroad Re- tirement Board; (3) the term ‘‘Commission’’ means the Inter- state Commerce Commission; (4) the term ‘‘employee’’— (A) includes any employee of the Mil- waukee Railroad who worked on a line of such railroad the sale of which became effec- tive on October 1, 1979; but (B) does not include any individual serving as president, vice-president, secretary, treas- urer, comptroller, counsel, member of the board of directors, or any other person per- forming such functions; (5) the term ‘‘Milwaukee Railroad’’ means the Chicago, Milwaukee, St. Paul and Pacific Railroad Company; and (6) the term ‘‘restructured Milwaukee Rail- road’’ means the entity that is designated as the reorganized railroad under the reorganiza- tion plan for the Milwaukee Railroad finally certified by the Commission. (Pub. L. 96–101, § 3, Nov. 4, 1979, 93 Stat. 736; Pub. L. 96–254, title I, § 123, May 30, 1980, 94 Stat. 409.) Editorial Notes AMENDMENTS 1980—Par. (6). Pub. L. 96–254 redefined ‘‘restructured Milwaukee Railroad’’ to mean the entity that is des- ignated as the reorganized railroad under the reorga- nization plan for the Milwaukee Railroad finally cer- tified by the Commission. Statutory Notes and Related Subsidiaries ABOLITION OF INTERSTATE COMMERCE COMMISSION AND TRANSFER OF FUNCTIONS Interstate Commerce Commission abolished and func- tions 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 appro- priate, see section 205 of Pub. L. 104–88, set out as a note under section 1301 of Title 49. § 903. Sales and transfers (a) The Milwaukee Railroad may negotiate and enter into agreements to sell, to another rail carrier or any other person, all or any por- tion of its rail properties used in railroad oper- ations as of October 15, 1979. Such sale agree- ments may in no event become final and effec- tive 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 de- velop plans, participate in negotiations, and rec- ommend 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 pur- chase 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 pro- posal 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. (Pub. L. 96–101, § 4, Nov. 4, 1979, 93 Stat. 737.) Editorial Notes CODIFICATION In subsec. (b)(1), ‘‘section 333 of title 49’’ was sub- stituted for ‘‘section 5(a)–(e) of the Department of Transportation Act [49 U.S.C. 1654(a)–(e)]’’, on author- ity 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. § 904. Court approved abandonments and sales (a) Abandonment of lines of railroad under sec- tion 1170 of title 11 (1) Upon the occurrence of an event described in section 920(b) of this title, or on April 1, 1980, whichever first occurs, the bankruptcy court may authorize the abandonment of lines of the Milwaukee Railroad pursuant to section 1170 of title 11. Pending the expiration of the time for appeal of an abandonment order or the deter- mination of any such appeal, the bankruptcy court may authorize the termination of service on a line to be abandoned, and the order author- izing such termination may not be stayed. In au- thorizing any abandonment pursuant to this sec- tion, the court shall require the carrier to pro- vide a fair arrangement at least as protective of the interests of employees as that required under section 11347 1 of title 49. (2) Prior to the date specified in paragraph (1) of this subsection, the bankruptcy court may hear and consider any request for the abandon- ment of lines of the Milwaukee Railroad, and may fix the time for the Commission’s report on the request, but it may take final action author- izing such abandonment only in accordance with such paragraph (1). (b) Sale or transfer of lines of railroad (1) Upon the occurrence of an event described in section 920(b) of this title, or on April 1, 1980, whichever first occurs, the bankruptcy court may authorize the sale or transfer of a line of the Milwaukee Railroad to be used in continued rail operations, subject to the approval of the Commission under paragraph (2) of this sub- section. In authorizing any such sale or transfer, the court shall provide a fair arrangement at least as protective of the interest 2 of employees as that required under section 11347 1 of title 49.