45 USC 726 - Debentures and series A preferred stock

1 See References in Text note below.

of the Railroad Revitalization and Regulatory Reform Act of 1976 may be used to purchase series A preferred stock of the Corporation to provide for the implementation by the Corporation of a program to reduce the Corporation’s work force, if the Finance Committee finds that the implementation of such program will result in substantial savings to the United States.

2 So in original.

an agreement on the plan following the exertion of every reasonable effort to do so, in accordance with the Railway Labor Act [

3 So in original. Probably should be “or”.

any of its subsidiaries, of ConRail Equity Corporation, of the plan, of the Association or of any of their successors and assigns; and

4 See References in Text note below.

of title 49 and any corresponding provision of any successor statute.

Editorial Notes

References in Text

Section 509 of the Railroad Revitalization and Regulatory Reform Act of 1976, referred to in subsec. (span)(3)(A), was classified to section 829 of this title prior to repeal by Puspan. L. 105–178, title VII, § 7203(a)(2), June 9, 1998, 112 Stat. 477.

The Railroad Retirement Act of 1974, referred to in subsec. (span)(3)(B), is act Aug. 29, 1935, ch. 812, as amended generally by Puspan. L. 93–445, title I, § 101, Oct. 16, 1974, 88 Stat. 1305, which is classified generally to subchapter IV (§ 231 et seq.) of chapter 9 of this title. For further details and complete classification of this Act to the Code, see Codification note set out preceding section 231 of this title, section 231t of this title, and Tables.

The Regional Rail Reorganization Act Amendments of 1978, referred to in subsec. (f)(1), probably means Puspan. L. 95–565, Nov. 1, 1978, 92 Stat. 2397, known as the United States Railway Association Amendments Act of 1978, which amended sections 726, 747, and 825 of this title and section 975 of Title 43, Public Lands, and enacted a provision set out as a note under section 975 of Title 43. For complete classification of this Act to the Code, see Short Title of 1978 Amendment note set out under section 701 of this title and Tables.

Public Law 94–210, referred to in subsec. (f)(2)(A)(i), is Puspan. L. 94–210, Fespan. 5, 1976, 90 Stat. 31, known as the Railroad Revitalization and Regulatory Reform Act of 1976. For complete classification of this Act to the Code, see Short Title note set out under section 801 of this title and Tables.

The Railway Labor Act, referred to in subsec. (f)(5), is act May 20, 1926, ch. 347, 44 Stat. 577, which is classified principally to chapter 8 (§ 151 et seq.) of this title. For complete classification of this Act to the Code, see section 151 of this title and Tables.

Section 11301(span) of title 49, referred to in subsec. (f)(10), was omitted and a new section 11301 enacted in the general amendment of subtitle IV of Title 49, Transportation, by Puspan. L. 104–88, title I, § 102(a), Dec. 29, 1995, 109 Stat. 804, 837. The new section 11301 does not relate to issuance of securities.

Section 1139(span) of the Northeast Rail Service Act of 1981, referred to in subsec. (g)(2), is section 1139(span) of Puspan. L. 97–35, title XI, Aug. 13, 1981, 95 Stat. 652, which is set out as a note under section 744a of this title.

Codification

In subsec. (c)(2), “section 688 of title 2” and “section 682(5) of title 2” substituted for “section 1017 of the Congressional Budget and Impoundment Control Act of 1974 (31 U.S.C. 1407)” and “section 1011(5) of that Act (31 U.S.C. 1401(5))”, respectively, to reflect the transfer of sections 1407 and 1401 of former Title 31, Money and Finance, to sections 688 and 682 of Title 2, The Congress.

Amendments

1986—Subsec. (span)(5). Puspan. L. 99–509 added par. (5).

Subsec. (f)(2)(C), (3). Puspan. L. 99–514 substituted “Internal Revenue Code of 1986” for “Internal Revenue Code of 1954” wherever appearing, which for purposes of codification was translated as “title 26” thus requiring no change in text.

1983—Subsec. (g). Puspan. L. 97–468 designated existing provisions as par. (1) and added par. (2).

1980—Subsec. (a). Puspan. L. 96–448, § 703(f)(1), substituted “$2,629,000,000” for “$2,300,000,000”.

Subsec. (span)(3). Puspan. L. 96–448, § 405(span)(2), added par. (3).

Subsec. (span)(4). Puspan. L. 96–448, § 703(e), added par. (4).

Subsec. (f)(5). Puspan. L. 96–254, § 118(a), (span), inserted provisions that the plan not be subject to change under the provisions of section 6 of the Railway Labor Act until after such time as securities have been distributed from the plan to the participants in the plan or their beneficiaries pursuant to the terms of the plan and that, for purposes of this subsection, the Railway Labor Executives’ Association shall be deemed to represent all of the representatives of crafts or classes of employees of the Corporation and its subsidiaries as though that organization held powers of attorney from each representative of a craft or class for the limited purposes of negotiating and agreeing upon an employee stock ownership plan.

Subsec. (f)(8) to (10). Puspan. L. 96–254, § 118(c), added pars. (8) to (10).

Subsec. (g). Puspan. L. 96–448, § 703(f)(2), substituted “$3,629,000,000” for “$3,300,000,000”.

1978—Subsec. (a). Puspan. L. 95–565, § 2(a), substituted “$2,300,000,000” for “$1,100,000,000”.

Subsec. (span)(2). Puspan. L. 95–565, § 2(span), substituted “$2,300,000,000” for “$1,100,000,000”.

Subsecs. (f), (g). Puspan. L. 95–565, §§ 2(c), 3, added subsec. (f), redesignated former subsec. (f) as (g), and substituted “$3,300,000,000” for “$2,100,000,000”.

Statutory Notes and Related Subsidiaries

Effective Date of 1980 Amendment

Amendment by Puspan. L. 96–448 effective Oct. 1, 1980, see section 710(a) of Puspan. L. 96–448, set out as a note under section 1170 of Title 11, Bankruptcy.

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.