2011 US Code
Title 45 - Railroads
Chapter 18 - MILWAUKEE RAILROAD RESTRUCTURING (§§ 901 - 922)
Section 914 - Obligation guarantees
View MetadataPublication Title | United States Code, 2006 Edition, Supplement 5, Title 45 - RAILROADS |
Category | Bills and Statutes |
Collection | United States Code |
SuDoc Class Number | Y 1.2/5: |
Contained Within | Title 45 - RAILROADS CHAPTER 18 - MILWAUKEE RAILROAD RESTRUCTURING Sec. 914 - Obligation guarantees |
Contains | section 914 |
Date | 2011 |
Laws in Effect as of Date | January 3, 2012 |
Positive Law | No |
Disposition | standard |
Source Credit | Pub. L. 96-101, §15, Nov. 4, 1979, 93 Stat. 743; Pub. L. 96-448, title VII, §701(a)(3), Oct. 14, 1980, 94 Stat. 1959. |
Statutes at Large References | 93 Stat. 743 94 Stat. 1959 112 Stat. 477 |
Public Law References | Public Law 96-101, Public Law 96-448, Public Law 105-178 |
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The Secretary of Transportation, under the authority of section 831 of this title, shall guarantee obligations of the Milwaukee Railroad for purposes of providing employee protection in accordance with the terms of the employee protection agreement entered into under section 908 of this title. Guarantees under this section shall be entered into without regard to the requirements of subsection (g) of section 831 of this title.
(b) Obligations as administrative expenseAny obligation guaranteed pursuant to this section shall be treated as an administrative expense of the estate of the Milwaukee Railroad.
(c) Limit on aggregate unpaid principal amountThe aggregate unpaid principal amount of obligations which may be guaranteed by the Secretary pursuant to this section shall not exceed $75,000,000.
(d) Limit on total liabilityThe total liability of the Milwaukee Railroad in connection with benefits and allowances provided under an employee protection agreement entered into under section 908 of this title shall not exceed $75,000,000.
(e) Liability of United States respecting section 908 agreementsExcept 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 908 of this title.
(f) Applicability of section 836 of this titleSection 836 of this title shall not apply to any obligation guaranteed under this section.
(Pub. L. 96–101, §15, Nov. 4, 1979, 93 Stat. 743; Pub. L. 96–448, title VII, §701(a)(3), Oct. 14, 1980, 94 Stat. 1959.)
References in TextSection 831 of this title, referred to in subsec. (a), was repealed by Pub. L. 105–178, title VII, §7203(a)(2), June 9, 1998, 112 Stat. 477, except for subsec. (c) of that section, which was renumbered and transferred to section 823(b) of this title by section 7203(a)(4) of Pub. L. 105–178.
Amendments1980—Subsec. (e). Pub. L. 96–448 inserted “to employees” after “no liability”.
Effective Date of 1980 AmendmentAmendment by Pub. L. 96–448 effective Oct. 14, 1980, see section 710(d) of Pub. L. 96–448, set out as a note under section 1170 of Title 11, Bankruptcy.
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