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► 45 U.S.C. § 742 45 u.s.c. · regional rail reorganization · title 45
45 U.S.C. § 742
Powers and duties of Corporation
Title 45 USC
● ACTIVE
Ch. 16
Jurisdiction Federal — United States
Chapter REGIONAL RAIL REORGANIZATION
Primary Source uscode.house.gov ↗
Federation ID OM-USC45-SEC-92CCDE
► STATUTORY TEXT primary source · verbatim · uscode.house.gov

U.S.C. Title 45 - RAILROADS 45 U.S.C. United States Code, 2023 Edition Title 45 - RAILROADS CHAPTER 16 - REGIONAL RAIL REORGANIZATION SUBCHAPTER III - CONSOLIDATED RAIL CORPORATION Sec. 742 - Powers and duties of Corporation From the U.S. Government Publishing Office, www.gpo.gov

§742. Powers and duties of Corporation

The Corporation shall have all of the powers and is subject to all of the duties vested in it under this chapter, in addition to the powers conferred upon it under the laws of the State or States in which it is incorporated and the powers of a railroad in any State in which it operates. The Corporation is authorized and directed to— (a) acquire rail properties designated in the final system plan to be transferred or conveyed to it; (b) operate rail service over such rail properties except as provided under sections 744(e) and 791(d)(3) of this title; (c) rehabilitate, improve, and modernize such rail properties; and (d) maintain adequate and efficient rail services.

So long as 50 per centum or more, as determined by the Secretary of the Treasury, of the outstanding indebtedness of the Corporation consists of obligations of the Association or other debts owing to or guaranteed by the United States, the Corporation shall not engage in activities which are not related to transportation.

(Pub. L. 93–236, title III, §302, Jan. 2, 1974, 87 Stat. 1005.)

Statutory Notes and Related Subsidiaries

Abolition of United States Railway Association and Transfer of Functions and Securities See section 1341 of this title.

Source: uscode.house.gov — public domain Official Source ↗
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The statutory text of 45 U.S.C. § 742 is reproduced from the official United States Code as published by the Office of the Law Revision Counsel of the U.S. House of Representatives (uscode.house.gov).
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Chapter 16 — REGIONAL RAIL REORGANIZATION
45 U.S.C. § 70145 U.S.C. § 70245 U.S.C. § 71145 U.S.C. § 71245 U.S.C. § 71345 U.S.C. § 71445 U.S.C. § 71545 U.S.C. § 71645 U.S.C. § 71745 U.S.C. § 71845 U.S.C. § 71945 U.S.C. § 72045 U.S.C. § 72145 U.S.C. § 72245 U.S.C. § 72345 U.S.C. § 72445 U.S.C. § 72545 U.S.C. § 72645 U.S.C. § 72745 U.S.C. § 72845 U.S.C. § 72945 U.S.C. § 74145 U.S.C. § 74245 U.S.C. § 743
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45 U.S.C.
Citation
45 U.S.C. § 742
Status
● ACTIVE
Chapter
16 — REGIONAL RAIL REORGANIZATION
Title
Railroads
Jurisdiction
Federal
Federation ID
OM-USC45-SEC-92CCDE
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Railroads — 45 U.S.C. § 742