49 U.S.C. § 11164 — Accounting and cost reporting

Page 448 TITLE 49—TRANSPORTATION § 11161 Editorial Notes PRIOR PROVISIONS A prior section 11145, Pub. L. 95–473, Oct. 17, 1978, 92 Stat. 1427; Pub. L. 96–296, § 5(b), July 1, 1980, 94 Stat. 796, related to reports by carriers, lessors, and associations, prior to the general amendment of this subtitle by Pub. L. 104–88, § 102(a). See sections 11145, 14123, and 15723 of this title. 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. SUBCHAPTER IV—RAILROAD COST ACCOUNTING § 11161. Implementation of cost accounting prin- ciples The Board shall periodically review its cost accounting rules and shall make such changes in those rules as are required to achieve the regu- latory purposes of this part. The Board shall in- sure that the rules promulgated under this sec- tion are the most efficient and least burdensome means by which the required information may be developed for regulatory purposes. To the maximum extent practicable, the Board shall conform such rules to generally accepted ac- counting principles. (Added Pub. L. 104–88, title I, § 102(a), Dec. 29, 1995, 109 Stat. 835.) Editorial Notes PRIOR PROVISIONS Provisions similar to those in this section were con- tained in section 11163 of this title prior to the general amendment of this subtitle by Pub. L. 104–88, § 102(a). A prior section 11161, added Pub. L. 96–448, title III, § 302(a), Oct. 14, 1980, 94 Stat. 1934, related to Railroad Accounting Principles Board, prior to the general amendment of this subtitle by Pub. L. 104–88, § 102(a). 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. § 11162. Rail carrier cost accounting system (a) Each rail carrier shall have and maintain a cost accounting system that is in compliance with the rules promulgated by the Board under section 11161 of this title. A rail carrier may, after notifying the Board, make modifications in such system unless, within 60 days after the date of notification, the Board finds such modi- fications to be inconsistent with the rules pro- mulgated by the Board under section 11161 of this title. (b) For purposes of determining whether the cost accounting system of a rail carrier is in compliance with the rules promulgated by the Board, the Board shall have the right to exam- ine and make copies of any documents, papers, or records of such rail carrier relating to com- pliance with such rules. Such documents, pa- pers, and records (and any copies thereof) shall not be subject to the mandatory disclosure re- quirements of section 552 of title 5. (Added Pub. L. 104–88, title I, § 102(a), Dec. 29, 1995, 109 Stat. 836.) Editorial Notes PRIOR PROVISIONS Provisions similar to those in this section were con- tained in section 11164 of this title prior to the general amendment of this subtitle by Pub. L. 104–88, § 102(a). A prior section 11162, added Pub. L. 96–448, title III, § 302(a), Oct. 14, 1980, 94 Stat. 1935; amended Pub. L. 103–272, § 4(j)(30), July 5, 1994, 108 Stat. 1370, related to cost accounting principles, prior to the general amend- ment of this subtitle by Pub. L. 104–88, § 102(a). 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. § 11163. Cost availability As required by the rules of the Board gov- erning discovery in Board proceedings, rail car- riers shall make relevant cost data available to shippers, States, ports, communities, and other interested parties that are a party to a Board proceeding in which such data are required. (Added Pub. L. 104–88, title I, § 102(a), Dec. 29, 1995, 109 Stat. 836.) Editorial Notes PRIOR PROVISIONS Provisions similar to those in this section were con- tained in section 11165 of this title prior to the general amendment of this subtitle by Pub. L. 104–88, § 102(a). A prior section 11163, added Pub. L. 96–448, title III, § 302(a), Oct. 14, 1980, 94 Stat. 1936; amended Pub. L. 103–272, § 4(j)(31), July 5, 1994, 108 Stat. 1370, related to implementation of cost accounting principles, prior to the general amendment of this subtitle by Pub. L. 104–88, § 102(a). See section 11161 of this title. 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. § 11164. Accounting and cost reporting To obtain expense and revenue information for regulatory purposes, the Board may promulgate reasonable rules for rail carriers providing transportation subject to the jurisdiction of the Board under this part, prescribing expense and revenue accounting and reporting requirements consistent with generally accepted accounting principles uniformly applied to such carriers. Such requirements shall be cost effective and compatible with and not duplicative of the man- agerial and responsibility accounting require- ments of those carriers. (Added Pub. L. 104–88, title I, § 102(a), Dec. 29, 1995, 109 Stat. 836.) Page 449 TITLE 49—TRANSPORTATION § 11301 Editorial Notes PRIOR PROVISIONS Provisions similar to those in this section were con- tained in section 11166 of this title prior to the general amendment of this subtitle by Pub. L. 104–88, § 102(a). Prior sections 11164 to 11168 were omitted in the gen- eral amendment of this subtitle by Pub. L. 104–88, § 102(a). Section 11164, added Pub. L. 96–448, title III, § 302(a), Oct. 14, 1980, 94 Stat. 1936, related to certification of rail carrier cost accounting systems. See section 11162 of this title. Section 11165, added Pub. L. 96–448, title III, § 302(a), Oct. 14, 1980, 94 Stat. 1937, related to cost data avail- ability. See section 11163 of this title. Section 11166, added Pub. L. 96–448, title III, § 302(a), Oct. 14, 1980, 94 Stat. 1937; amended Pub. L. 103–272, § 4(j)(32), July 5, 1994, 108 Stat. 1370, related to account- ing and cost reporting. See section 11164 of this title. Section 11167, added Pub. L. 96–448, title III, § 302(a), Oct. 14, 1980, 94 Stat. 1938; amended Pub. L. 103–272, § 4(j)(33), July 5, 1994, 108 Stat. 1370, related to reports to Congress by Railroad Accounting Principles Board. Section 11168, added Pub. L. 96–448, title III, § 302(a), Oct. 14, 1980, 94 Stat. 1938, authorized appropriations for fiscal years 1981 to 1983. 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 113—FINANCE SUBCHAPTER I—EQUIPMENT TRUSTS AND SECURITY INTERESTS Sec. 11301. Equipment trusts: recordation; evidence of indebtedness. SUBCHAPTER II—COMBINATIONS 11321. Scope of authority. 11322. Limitation on pooling and division of trans- portation or earnings. 11323. Consolidation, merger, and acquisition of control. 11324. Consolidation, merger, and acquisition of control: conditions of approval. 11325. Consolidation, merger, and acquisition of control: procedure. 11326. Employee protective arrangements in trans- actions involving rail carriers. 11327. Supplemental orders. 11328. Restrictions on officers and directors. SUBCHAPTER I—EQUIPMENT TRUSTS AND SECURITY INTERESTS § 11301. Equipment trusts: recordation; evidence of indebtedness (a) A mortgage (other than a mortgage under chapter 313 of title 46), lease, equipment trust agreement, conditional sales agreement, or other instrument evidencing the mortgage, lease, conditional sale, or bailment of or secu- rity interest in vessels, railroad cars, loco- motives, or other rolling stock, or accessories used on such railroad cars, locomotives, or other rolling stock (including superstructures and racks), intended for a use related to interstate commerce shall be filed with the Board in order to perfect the security interest that is the sub- ject of such instrument. An assignment of a right or interest under one of those instruments and an amendment to that instrument or assign- ment including a release, discharge, or satisfac- tion of any part of it shall also be filed with the Board. The instrument, assignment, or amend- ment must be in writing, executed by the par- ties to it, and acknowledged or verified under Board regulations. When filed under this sec- tion, that document is notice to, and enforce- able against, all persons. A document filed under this section does not have to be filed, deposited, registered, or recorded under another law of the United States, a State (or its political subdivi- sions), or territory or possession of the United States, related to filing, deposit, registration, or recordation of those documents. This section does not change chapter 313 of title 46. (b) The Board shall maintain a system for re- cording each document filed under subsection (a) of this section and mark each of them with a consecutive number and the date and hour of their recordation. The Board shall maintain and keep open for public inspection an index of docu- ments filed under that subsection. That index shall include the name and address of the prin- cipal debtors, trustees, guarantors, and other parties to those documents and may include other facts that will assist in determining the rights of the parties to those transactions. (c) The Board may to the greatest extent prac- ticable perform its functions under this section through contracts with private sector entities. (d) A mortgage, lease, equipment trust agree- ment, conditional sales agreement, or other in- strument evidencing the mortgage, lease, condi- tional sale, or bailment of or security interest in vessels, railroad cars, locomotives, or other roll- ing stock, or accessories used on such railroad cars, locomotives, or other rolling stock (includ- ing superstructures and racks), or any assign- ment thereof, which— (1) is duly constituted under the laws of a country other than the United States; and (2) relates to property that bears the report- ing marks and identification numbers of any person domiciled in or corporation organized under the laws of such country, shall be recognized with the same effect as hav- ing been filed under this section. (e) Interests with respect to which documents are filed or recognized under this section are deemed perfected in all jurisdictions, and shall be governed by applicable State or foreign law in all matters not specifically governed by this section. (f) The Board shall collect, maintain, and keep open for public inspection a railway equipment register consistent with the manner and format maintained by the Interstate Commerce Com- mission as of January 1, 1996. (Added Pub. L. 104–88, title I, § 102(a), Dec. 29, 1995, 109 Stat. 837; amended Pub. L. 104–287, § 5(25), Oct. 11, 1996, 110 Stat. 3390.) Editorial Notes PRIOR PROVISIONS Provisions similar to those in this section were con- tained in section 11303 of this title prior to the general amendment of this subtitle by Pub. L. 104–88, § 102(a).