
From the U.S. Code Online via GPO Access
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[Laws in effect as of January 23, 2000]
[Document not affected by Public Laws enacted between
  January 23, 2000 and December 4, 2001]
[CITE: 45USC1115]

 
                           TITLE 45--RAILROADS
 
                   CHAPTER 20--NORTHEAST RAIL SERVICE
 
Sec. 1115. Redemption of stock

    For the purpose of computing the amount for which certificates of 
value shall be redeemable under section 746 of this title, the series B 
preferred stock and the common stock conveyed to the Secretary under 
section 1107 \1\ of this title shall be deemed to be without fair market 
value unless in a proceeding brought under section 1105(a)(4) of this 
title the special court shall have determined that such securities had a 
value and shall have entered a judgment against the United States for 
that value. In such an event, the securities shall for purposes of 
section 746 of this title be deemed to have that value found by the 
special court.
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    \1\ See References in Text note below.
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(Pub. L. 97-35, title XI, Sec. 1167(b), Aug. 13, 1981, 95 Stat. 686.)

                       References in Text

    Section 1107 of this title, referred to in text, was repealed by 
Pub. L. 99-509, title IV, Sec. 4033(c)(1)(C)(i)(I), Oct. 21, 1986, 100 
Stat. 1908.

                          Codification

    Section is comprised of subsec. (b) of section 1167 of Pub. L. 97-
35. Subsec. (a) of section 1167 amended section 743 of this title. 
Subsec. (c) of section 1167, which was set out as subsec. (b) of this 
section and which provided that the clerk of the special court convey to 
the Secretary certain series B preferred stock and common stock of 
Conrail on deposit with the court, and authorized the Secretary to hold 
and exercise all rights to such Conrail securities, was repealed by Pub. 
L. 99-509, title IV, Sec. 4033(c)(1)(C)(i)(IV), Oct. 21, 1986, 100 Stat. 
1908.

                  Section Referred to in Other Sections

    This section is referred to in section 719 of this title.
