49 U.S.C. § 11328 — Restrictions on officers and directors

Page 454 TITLE 49—TRANSPORTATION § 11328 Statutory Notes and Related Subsidiaries EFFECTIVE DATE Section effective Jan. 1, 1996, except as otherwise pro- vided in Pub. L. 104–88, see section 2 of Pub. L. 104–88, set out as a note under section 1301 of this title. § 11328. Restrictions on officers and directors (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 author- ize a person to hold the position of officer or di- rector 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 indi- vidual holding the position of officer or director only of Class III rail carriers. (Added Pub. L. 104–88, title I, § 102(a), Dec. 29, 1995, 109 Stat. 843.) Editorial Notes PRIOR PROVISIONS Provisions similar to those in this section were con- tained in section 11322 of this title prior to the general amendment of this subtitle by Pub. L. 104–88, § 102(a). Prior sections 11341 to 11351 and 11361 to 11367 were omitted in the general amendment of this subtitle by Pub. L. 104–88, § 102(a). Section 11341, Pub. L. 95–473, Oct. 17, 1978, 92 Stat. 1434; Pub. L. 97–261, § 21(a), Sept. 20, 1982, 96 Stat. 1122, related to exclusive authority of Interstate Commerce Commission under former sections 11341 to 11351 of this title. See sections 11321, 14302, and 14303 of this title. Section 11342, Pub. L. 95–473, Oct. 17, 1978, 92 Stat. 1434; Pub. L. 96–296, § 20, July 1, 1980, 94 Stat. 811; Pub. L. 96–454, § 5(c), Oct. 15, 1980, 94 Stat. 2014, related to limitation on pooling and division of transportation or earnings. See sections 11322 and 14302 of this title. Section 11343, Pub. L. 95–473, Oct. 17, 1978, 92 Stat. 1434; Pub. L. 96–296, § 18(b), July 1, 1980, 94 Stat. 811; Pub. L. 97–261, § 21(b), Sept. 20, 1982, 96 Stat. 1122, re- lated to consolidation, merger, and acquisition of con- trol. See sections 11323 and 14303 of this title. Section 11344, Pub. L. 95–473, Oct. 17, 1978, 92 Stat. 1436; Pub. L. 96–448, title II, § 228(a)–(c), Oct. 14, 1980, 94 Stat. 1931; Pub. L. 97–261, § 21(f), (g), Sept. 20, 1982, 96 Stat. 1123; Pub. L. 98–216, § 2(4), Feb. 14, 1984, 98 Stat. 5, related to general procedures and conditions of ap- proval of consolidations, mergers, and acquisitions of control. See sections 11324 and 14303 of this title. Section 11345, Pub. L. 95–473, Oct. 17, 1978, 92 Stat. 1436; Pub. L. 96–448, title II, § 228(d), Oct. 14, 1980, 94 Stat. 1932, related to rail carrier procedures in consoli- dations, mergers, and acquisitions of control. See sec- tion 11325 of this title. Section 11345a, added Pub. L. 96–296, § 27(a), July 1, 1980, 94 Stat. 819; amended Pub. L. 97–261, § 21(c), (d), Sept. 20, 1982, 96 Stat. 1123, related to motor carrier pro- cedures in consolidations, mergers, and acquisitions of control. See section 14303 of this title. Section 11346, Pub. L. 95–473, Oct. 17, 1978, 92 Stat. 1437; Pub. L. 97–449, § 5(g)(7), Jan. 12, 1983, 96 Stat. 2443, related to expedited rail carrier procedures in consoli- dations, mergers, and acquisitions of control. Section 11347, Pub. L. 95–473, Oct. 17, 1978, 92 Stat. 1439; Pub. L. 98–216, § 2(16), Feb. 14, 1984, 98 Stat. 5; Pub. L. 103–272, § 5(m)(31), July 5, 1994, 108 Stat. 1378, related to employee protective arrangements in transactions involving rail carriers. See section 11326 of this title. Section 11348, Pub. L. 95–473, Oct. 17, 1978, 92 Stat. 1439; Pub. L. 96–454, § 8(b)(1), Oct. 15, 1980, 94 Stat. 2021; Pub. L. 97–261, § 19(b), Sept. 20, 1982, 96 Stat. 1121; Pub. L. 97–449, § 5(g)(8), Jan. 12, 1983, 96 Stat. 2443; Pub. L. 98–554, title II, § 227(a)(3), Oct. 30, 1984, 98 Stat. 2852; Pub. L. 103–272, § 5(m)(32), July 5, 1994, 108 Stat. 1378; Pub. L. 103–429, § 6(17), Oct. 31, 1994, 108 Stat. 4379, re- lated to Interstate Commerce Commission authority over noncarriers that acquire control of carriers. See section 14303 of this title. Section 11349, Pub. L. 95–473, Oct. 17, 1978, 92 Stat. 1439, related to temporary operating approval for trans- actions involving motor and water carriers. See section 14303 of this title. Section 11350, Pub. L. 95–473, Oct. 17, 1978, 92 Stat. 1440, related to responsibility of Secretary of Transpor- tation in certain transactions. Section 11351, added Pub. L. 96–258, § 1(13)(A), June 3, 1980, 94 Stat. 427, related to orders by Interstate Com- merce Commission supplemental to orders made in pro- ceedings under former sections 11342 to 11345 and 11347 of this title. See sections 11327 and 14303 of this title. Section 11361, Pub. L. 95–473, Oct. 17, 1978, 92 Stat. 1441; Pub. L. 97–449, § 5(g)(9), Jan. 12, 1983, 96 Stat. 2443; Pub. L. 98–216, § 2(17), Feb. 14, 1984, 98 Stat. 5, related to exclusive authority of Interstate Commerce Commis- sion over financial structure of carriers. Section 11362, Pub. L. 95–473, Oct. 17, 1978, 92 Stat. 1441, related to criteria for approval and authority to make changes in carrier financial structure. Section 11363, Pub. L. 95–473, Oct. 17, 1978, 92 Stat. 1442, related to assent of holders of securities and cer- tain other instruments to changes in carrier financial structure. Section 11364, Pub. L. 95–473, Oct. 17, 1978, 92 Stat. 1443, related to procedure for obtaining assents of secu- rity holders to changes in financial structure. Section 11365, Pub. L. 95–473, Oct. 17, 1978, 92 Stat. 1443, related to effect of change in financial structure of carrier on other persons. Section 11366, Pub. L. 95–473, Oct. 17, 1978, 92 Stat. 1443, related to reports by carriers making change in fi- nancial structure. Section 11367, Pub. L. 95–473, Oct. 17, 1978, 92 Stat. 1444; Pub. L. 98–216, § 2(18), (19), Feb. 14, 1984, 98 Stat. 5, related to application of certain other laws to proposed changes in financial structure of carriers. Statutory Notes and Related Subsidiaries EFFECTIVE DATE Section effective Jan. 1, 1996, except as otherwise pro- vided in Pub. L. 104–88, see section 2 of Pub. L. 104–88, set out as a note under section 1301 of this title. CHAPTER 115—FEDERAL-STATE RELATIONS Sec. 11501. Tax discrimination against rail transpor- tation property. 11502. Withholding State and local income tax by rail carriers. § 11501. Tax discrimination against rail transpor- tation property (a) In this section— (1) the term ‘‘assessment’’ means valuation for a property tax levied by a taxing district; (2) the term ‘‘assessment jurisdiction’’ means a geographical area in a State used in determining the assessed value of property for ad valorem taxation; (3) the term ‘‘rail transportation property’’ means property, as defined by the Board, owned or used by a rail carrier providing transportation subject to the jurisdiction of the Board under this part; and (4) the term ‘‘commercial and industrial property’’ means property, other than trans- portation property and land used primarily for agricultural purposes or timber growing, de- voted to a commercial or industrial use and subject to a property tax levy.