Sec. 15. obligation guarantees
228 words·~1 min read·
/statute-compilations/comps-1798/sec-15A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
## Sec. 15 obligation guarantees ###
(a)The Secretary of Transportation, under the authority of section 511 of the Railroad Revitalization and Regulatory Reform Act of 1976 (45 U.S.C. 831), shall guarantee obligations of the Milwaukee Railroad for purposes of providing employee protection in accorance with the terms of the employee protection agreement entered into under section 9 of this Act. Guarantees under this section shall be entered into without regard to the requirements of subsection
(g)of section 511 of the Railroad Revitalization and Regulatory Reform Act of 1976. ###
(b)Any obligation guaranteed pursuant to this section shall be treated as an administrative expense of the estate of the Milwaukee Railroad. ###
(c)The aggregate unpaid principal amount of obligations which may be guaranteed by the Secretary pursuant to this section shall not exceed $75,000,000. ###
(d)The total liability of the Milwaukee Railroad in connection with benefits and allowances provided under an employee protetion agreement entered into under section 9 of this Act shall not exceed $75,000,000. ###
(e)Except in connection with obligations guaranteed under this section, the United States shall incur no liability to employees in connection with any employee protection agreement entered into under section 9 of this Act. ###
(f)Section 22404 of title 49, United States Code, shall not apply to any obligation guaranteed under this section. **[**[45 U.S.C. 914](/us/usc/t45/s914)**]**
Connectionstraces to 2
Traces to 2 documents
Citation graph
cites case law
Cites 2Cited by 0 across 0 sources