Sec. 302. powers and duties of the corporation
184 words·~1 min read·
/statute-compilations/comps-1802/sec-302A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
## Sec. 302 powers and duties of the corporation The Corporation shall have all of the powers and is subject to all of the duties vested in it under this Act, 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 304(e) and 601(d)(3) of this Act; ###
(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. **[**[45 U.S.C. 742](/us/usc/t45/s742)**]**
Connectionstraces to 1
Traces to 1 document
Citation graph
cites case law
Sec. 302
powers and duties of the corporation
Cites 1Cited by 0 across 0 sources