49 U.S.C. § 11328 | Restrictions on officers and directors

(a)

A person may hold the position of officer or director of more than one rail carrier only when authorized by the Board. The Board may authorize a person to hold the position of officer or director of more than one of those carriers when public or private interests will not be adversely affected.

(b)

This section shall not apply to an individual holding the position of officer or director only of Class III rail carriers.

Pub. L. 104–88, title I, § 102(a)Dec. 29, 1995109 Stat. 843 (Added , , .)

Editorial Notes

Prior Provisions

section 11322 of this title Pub. L. 104–88, § 102(a)Provisions similar to those in this section were contained in prior to the general amendment of this subtitle by .

Pub. L. 104–88, § 102(a)Prior sections 11341 to 11351 and 11361 to 11367 were omitted in the general amendment of this subtitle by .

Pub. L. 95–473Oct. 17, 197892 Stat. 1434 Pub. L. 97–261, § 21(a)Sept. 20, 198296 Stat. 1122 Section 11341, , , ; , , , related to exclusive authority of Interstate Commerce Commission under former sections 11341 to 11351 of this title. See sections 11321, 14302, and 14303 of this title.

Pub. L. 95–473Oct. 17, 197892 Stat. 1434 Pub. L. 96–296, § 20July 1, 198094 Stat. 811 Pub. L. 96–454, § 5(c)Oct. 15, 198094 Stat. 2014 Section 11342, , , ; , , ; , , , related to limitation on pooling and division of transportation or earnings. See sections 11322 and 14302 of this title.

Pub. L. 95–473Oct. 17, 197892 Stat. 1434 Pub. L. 96–296, § 18(b)July 1, 198094 Stat. 811 Pub. L. 97–261, § 21(b)Sept. 20, 198296 Stat. 1122 Section 11343, , , ; , , ; , , , related to consolidation, merger, and acquisition of control. See sections 11323 and 14303 of this title.

Pub. L. 95–473Oct. 17, 197892 Stat. 1436 Pub. L. 96–448, title II, § 228(a)Oct. 14, 198094 Stat. 1931 Pub. L. 97–261, § 21(f)Sept. 20, 198296 Stat. 1123 Pub. L. 98–216, § 2(4)Feb. 14, 198498 Stat. 5 Section 11344, , , ; –(c), , ; , (g), , ; , , , related to general procedures and conditions of approval of consolidations, mergers, and acquisitions of control. See sections 11324 and 14303 of this title.

Pub. L. 95–473Oct. 17, 197892 Stat. 1436 Pub. L. 96–448, title II, § 228(d)Oct. 14, 198094 Stat. 1932 section 11325 of this titleSection 11345, , , ; , , , related to rail carrier procedures in consolidations, mergers, and acquisitions of control. See .

Pub. L. 96–296, § 27(a)July 1, 198094 Stat. 819 Pub. L. 97–261, § 21(c)Sept. 20, 198296 Stat. 1123 section 14303 of this titleSection 11345a, added , , ; amended , (d), , , related to motor carrier procedures in consolidations, mergers, and acquisitions of control. See .

Pub. L. 95–473Oct. 17, 197892 Stat. 1437 Pub. L. 97–449, § 5(g)(7)Jan. 12, 198396 Stat. 2443 Section 11346, , , ; , , , related to expedited rail carrier procedures in consolidations, mergers, and acquisitions of control.

Pub. L. 95–473Oct. 17, 197892 Stat. 1439 Pub. L. 98–216, § 2(16)Feb. 14, 198498 Stat. 5 Pub. L. 103–272, § 5(m)(31)July 5, 1994108 Stat. 1378 section 11326 of this titleSection 11347, , , ; , , ; , , , related to employee protective arrangements in transactions involving rail carriers. See .

Pub. L. 95–473Oct. 17, 197892 Stat. 1439 Pub. L. 96–454, § 8(b)(1)Oct. 15, 198094 Stat. 2021 Pub. L. 97–261, § 19(b)Sept. 20, 198296 Stat. 1121 Pub. L. 97–449, § 5(g)(8)Jan. 12, 198396 Stat. 2443 Pub. L. 98–554, title II, § 227(a)(3)Oct. 30, 198498 Stat. 2852 Pub. L. 103–272, § 5(m)(32)July 5, 1994108 Stat. 1378 Pub. L. 103–429, § 6(17)Oct. 31, 1994108 Stat. 4379 section 14303 of this titleSection 11348, , , ; , , ; , , ; , , ; , , ; , , ; , , , related to Interstate Commerce Commission authority over noncarriers that acquire control of carriers. See .

Pub. L. 95–473Oct. 17, 197892 Stat. 1439 section 14303 of this titleSection 11349, , , , related to temporary operating approval for transactions involving motor and water carriers. See .

Pub. L. 95–473Oct. 17, 197892 Stat. 1440 Section 11350, , , , related to responsibility of Secretary of Transportation in certain transactions.

Pub. L. 96–258, § 1(13)(A)June 3, 198094 Stat. 427 Section 11351, added , , , related to orders by Interstate Commerce Commission supplemental to orders made in proceedings under former sections 11342 to 11345 and 11347 of this title. See sections 11327 and 14303 of this title.

Pub. L. 95–473Oct. 17, 197892 Stat. 1441 Pub. L. 97–449, § 5(g)(9)Jan. 12, 198396 Stat. 2443 Pub. L. 98–216, § 2(17)Feb. 14, 198498 Stat. 5 Section 11361, , , ; , , ; , , , related to exclusive authority of Interstate Commerce Commission over financial structure of carriers.

Pub. L. 95–473Oct. 17, 197892 Stat. 1441 Section 11362, , , , related to criteria for approval and authority to make changes in carrier financial structure.

Pub. L. 95–473Oct. 17, 197892 Stat. 1442 Section 11363, , , , related to assent of holders of securities and certain other instruments to changes in carrier financial structure.

Pub. L. 95–473Oct. 17, 197892 Stat. 1443 Section 11364, , , , related to procedure for obtaining assents of security holders to changes in financial structure.

Pub. L. 95–473Oct. 17, 197892 Stat. 1443 Section 11365, , , , related to effect of change in financial structure of carrier on other persons.

Pub. L. 95–473Oct. 17, 197892 Stat. 1443 Section 11366, , , , related to reports by carriers making change in financial structure.

Pub. L. 95–473Oct. 17, 197892 Stat. 1444 Pub. L. 98–216, § 2(18)Feb. 14, 198498 Stat. 5 Section 11367, , , ; , (19), , , related to application of certain other laws to proposed changes in financial structure of carriers.

Statutory Notes and Related Subsidiaries

Effective Date

Jan. 1, 1996Pub. L. 104–88 section 2 of Pub. L. 104–88 section 1301 of this titleSection effective , except as otherwise provided in , see , set out as a note under .