§ 1341. Abolition of United States Railway Association
362 words·~2 min read·
/usc/title-45/section-1341A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)Abolition and termination
(1)Effective April 1, 1987, the United States Railway Association is abolished.
(2)On January 1, 1987, all powers, duties, rights, and obligations of such association relating to the Corporation under the Regional Rail Reorganization Act of 1973 (45 U.S.C. 701 et seq.) shall be transferred to the Secretary of Transportation.
(3)The sole function of the United States Railway Association after January 1, 1987, shall be the termination of its affairs and the liquidation of its assets.
(b)Transfer of securities and responsibilities
(1)Any securities of the Corporation held by the United States Railway Association shall, upon 1 October 21, 1986, be transferred to the Secretary of Transportation.
(2)If, on the date the United States Railway Association is abolished under subsection (a), such association shall not have completed the termination of its affairs and the liquidation of its assets, the duty of completing such winding up of its affairs and liquidation shall be transferred to the Secretary of Transportation, who for such purposes shall succeed to all remaining powers, duties, rights, and obligations of such association.
(c)Financing agreement
(1)On January 1, 1987, the Amended and Restated Financing Agreement, dated May 10, 1979, between the United States Railway Association and the Corporation, together with any and all rights and obligations of or on behalf of any person with respect to such agreement, shall terminate and be of no further force or effect, except for those provisions specifying terms and conditions for payments made to the United States with respect to debentures, preferred stock, and contingent interest notes.
(2)Effective as of the sale date, those provisions of the Financing Agreement referred to in paragraph
(1)shall terminate.
(Pub. L. 99–509, title IV, § 4031, Oct. 21, 1986, 100 Stat. 1906.)
Connections38 cite this · traces to 1
Cited by 38 sections
U.S. Code
- § 9101Definitions
- § 332Minority Resource Center
- § 701Congressional declaration of policy
- § 743Valuation and conveyance of rail properties
- § 719Judicial review
- § 791Relationship to other laws
- § 702Definitions
- § 744Termination and continuation of rail services
- § 721Loans
- § 726Debentures and series A preferred stock
- § 716Final system plan
- § 720Obligations of Association
- § 1105Judicial review
- § 358Basis to distributees
- § 741Formation and structure
- § 745Continuing reorganization; supplemental transactions
- § 746Certificates of value
- § 711Formation and structure
- § 712Functions of Association
- § 724Authorization of appropriations
- § 713Access to information
- § 717Adoption of final system plan
- § 1204Transition period
- § 727Additional purchases of Series A preferred stock
- § 354Exchanges of stock and securities in certain reorganizations
- § 718Review by Congress
- § 725Interim agreements
- § 802Definitions
- § 797hEmployee and personal injury claims
- § 747Protection of Federal funds
- § 797mArbitration
- § 742Powers and duties of Corporation
- § 728Reports to Congress
- § 729Advisory Board
- § 722Records, audit, and examination
- § 1103Goals and objectives
statute-compilations
Traces to 1 document
5 references not yet in our index
- 1
- Pub. L. 99–509, title IV, § 4031
- 100 Stat. 1906
- Pub. L. 93–236
- 87 Stat. 985
Citation graph
cites case law
§ 1341
Abolition of United States Railway Association
U.S.C.×36
Stat. Comp.×1
Stat.×1
Cite1
Pub. L.Pub. L. 99–509, title IV, § 4031
Stat.100 Stat. 1906
Pub. L.Pub. L. 93–236
Stat.87 Stat. 985
Cites 6Cited by 38 across 3 sources