Nonpartisan civic infrastructure
AllCiv·Legis1
·

45 U.S.C. § 922

U.S. CodeFederal
Employee stock ownership plan for surviving portion of Milwaukee Railroad
About This Law
/us/usc/t45/s922
Title
45 — Railroads
Chapter
CH18
Release
119-84
Release Date
2026-04-17

Section Text

Highlight any text to annotate
If an event described in section 920(b) of this title occurs, resulting in the survival of less than the entire Milwaukee Railroad system, then any relief provided for such surviving Milwaukee Railroad system under the Emergency Rail Services Act of 1970 [45 U.S.C. 661 et seq.] or any other Federal legislation shall be conditioned upon good faith efforts by the trustee or the Milwaukee Railroad, or both, to establish an employee stock ownership plan which shall embrace the purchase or acquisition of qualifying employer securities of the Milwaukee Railroad equal in value to 25 per centum of the amount of such relief provided. (Pub. L. 96–101, § 26, Nov. 4, 1979, 93 Stat. 747.) Editorial Notes References in TextThe Emergency Rail Services Act of 1970, referred to in text, is Pub. L. 91–663, Jan. 8, 1971, 84 Stat. 1975, which is classified generally to chapter 15 (§ 661 et seq.) of this title. For complete classification of this Act to the Code, see Short Title note set out under section 661 of this title and Tables.

Take Action

Your position
Add a comment
to comment on this section.
Annotate the text
Highlight any passage on the Full Text tab to attach a note. Annotations appear on the Annotations tab.