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► 45 U.S.C. § 903 45 u.s.c. · milwaukee railroad restructuring · title 45
45 U.S.C. § 903
Sales and transfers
Title 45 USC
● ACTIVE
Ch. 18
Jurisdiction Federal — United States
Chapter MILWAUKEE RAILROAD RESTRUCTURING
Primary Source uscode.house.gov ↗
Federation ID OM-USC45-SEC-82BAF8
► 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 18 - MILWAUKEE RAILROAD RESTRUCTURING Sec. 903 - Sales and transfers From the U.S. Government Publishing Office, www.gpo.gov

§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 portion of its rail properties used in railroad operations as of October 15, 1979. Such sale agreements may in no event become final and effective 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 develop plans, participate in negotiations, and recommend 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 purchase 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 proposal 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 substituted for "section 5(a)–(e) of the Department of Transportation Act [49 U.S.C. 1654(a)–(e)]", on authority 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.

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The statutory text of 45 U.S.C. § 903 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 18 — MILWAUKEE RAILROAD RESTRUCTURING
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Railroads — 45 U.S.C. § 903