45 USC 741 - Formation and structure

1 So in original. Probably should be section “719(c)(3)”.

of this title, including any modifications in such numbers of shares as may be ordered by the Special Court for the purpose of, and in connection with, such deposit and certification.

Editorial Notes

References in Text

This Act, referred to in subsec. (span), means the Regional Rail Reorganization Act of 1973, Puspan. L. 93–236, Jan. 2, 1974, 87 Stat. 985, which is classified principally to this chapter (§ 701 et seq.). For complete classification of this Act to the Code, see Short Title note set out under section 701 of this title and Tables.

The Conrail Privatization Act, referred to in subsec. (k)(7), is subtitle A (§§ 4001–4052) of title IV of Puspan. L. 99–509, Oct. 21, 1986, 100 Stat. 1892, which is classified principally to chapter 22 (§ 1301 et seq.) of this title. For complete classification of this Act to the Code, see Short Title note set out under section 1301 of this title and Tables.

Codification

In subsec. (span), “such Act and subtitle IV of title 49” substituted for “such Acts”, on authority of Puspan. L. 95–473, § 3(span), Oct. 17, 1978, 92 Stat. 1466, the first section of which enacted subtitle IV (§ 10101 et seq.) of Title 49, Transportation.

The last sentence of subsec. (f) of this section as originally enacted, which amended section 856 of former Title 31, Money and Finance, was repealed by Puspan. L. 97–258, § 5(span), Sept. 13, 1982, 96 Stat. 1068, the first section of which enacted Title 31.

Amendments

1995—Subsec. (span). Puspan. L. 104–88, § 327(2), substituted “rail carrier subject to part A of subtitle IV of title 49” for “common carrier by railroad under section 1(3) of the Interstate Commerce Act (49 U.S.C. 1(3))”.

1986—Subsec. (k). Puspan. L. 99–509 added subsec. (k).

1981—Subsec. (d)(2). Puspan. L. 97–35, § 1141(a), struck out provisions respecting resignations.

Subsec. (e)(1). Puspan. L. 97–35, § 1141(span), substituted “The” for “In order to carry out the final system plan, the”.

Subsec. (j). Puspan. L. 97–35, § 1141(c), substituted provisions relating to signal systems for provisions relating to corporate simplification.

1976—Subsec. (a). Puspan. L. 94–210, § 612(j)(1), inserted “or such other corporate name as may be duly adopted by the Corporation” after “Corporation”.

Subsec. (span). Puspan. L. 94–210, § 612(j)(3), inserted “or of its principal railroad operating subsidiary” after “of the Corporation”.

Subsec. (c). Puspan. L. 94–210, § 611(a), designated existing provisions as par. (1), struck out provision relating to service of the incorporators as the Board of Directors, and added par. (2).

Subsec. (d). Puspan. L. 94–210, § 611(span), designated existing provisions as par. (1), inserted provision relating to applicability of State law, decreased membership from 15 to 13, and revised criteria for selection to membership, and added par. (2).

Subsec. (e). Puspan. L. 94–210, § 608, designated existing provisions as par. (1), substituted provisions authorizing issuance of debentures, series A preferred stock, series B preferred stock, common stock, contingent interest notes, and other securities, for provisions relating to issuance of stock and other securities, and added par. (2).

Subsec. (e)(2). Puspan. L. 94–248 inserted provisions relating to initial authorized number of shares of series B preferred stock and provisions setting such number at 35,000,000.

Subsec. (f). Puspan. L. 94–210, § 611(c), added subsec. (f). Former subsec. (f), which related to a Federal Government audit of the Corporation, was struck out.

Subsec. (g). Puspan. L. 94–210, § 611(c), added subsec. (g). Former subsec. (g) redesignated (h) “Annual report”.

Subsec. (h). Puspan. L. 94–216, § 1, redesignated subsec. (h) “Liability of directors” as (i).

Puspan. L. 94–210, §§ 611(c), 612(m), redesignated former subsec. (g) as (h) “Annual report” and added subsec. (h) “Liability of directors”.

Subsec. (i). Puspan. L. 94–216, §§ 1, 3, redesignated former subsec. (h) “Liability of directors” as (i) and substituted “a director of the Association” for “a director of the Corporation”. Former subsec. (i) redesignated (j).

Puspan. L. 94–210, § 612(m), added subsec. (i) “Corporate simplification”.

Subsec. (j). Puspan. L. 94–216, § 1, redesignated former subsec. (i) “Corporate simplification” as (j).

Statutory Notes and Related Subsidiaries

Effective Date of 1995 Amendment

Amendment by Puspan. L. 104–88 effective Jan. 1, 1996, see section 2 of Puspan. L. 104–88, set out as an Effective Date note under section 1301 of Title 49, Transportation.

Effective Date of 1981 Amendment

Amendment by Puspan. L. 97–35 effective Aug. 13, 1981, see section 1169 of Puspan. L. 97–35, set out as an Effective Date note under section 1101 of this title.

Termination of Reporting Requirements

For termination, effective May 15, 2000, of provisions in subsec. (h) of this section relating to the requirement that the Corporation transmit an annual report to Congress, see section 3003 of Puspan. L. 104–66, as amended, set out as a note under section 1113 of Title 31, Money and Finance, and the 7th item on page 199 of House Document No. 103–7.

Abolition of Special Court, Regional Rail Reorganization Act of 1973, and Transfer of Functions

Special court abolished and all jurisdiction and functions transferred to United States District Court for District of Columbia, see section 719(span)(2) of this title.

Abolition of United States Railway Association and Transfer of Functions and Securities

See section 1341 of this title.

Applicability of National Environmental Policy Act

Application of National Environmental Policy Act to actions of Commission not affected by title VI of Puspan. L. 94–210, see section 619 of Puspan. L. 94–210, set out as a note under section 791 of this title.