
From the U.S. Code Online via GPO Access
[wais.access.gpo.gov]
[Laws in effect as of January 23, 2000]
[Document not affected by Public Laws enacted between
  January 23, 2000 and December 4, 2001]
[CITE: 49USC11301]

 
                        TITLE 49--TRANSPORTATION
 
                 SUBTITLE IV--INTERSTATE TRANSPORTATION
 
                              PART A--RAIL
 
                          CHAPTER 113--FINANCE
 
          SUBCHAPTER I--EQUIPMENT TRUSTS AND SECURITY INTERESTS
 
Sec. 11301. Equipment trusts: recordation; evidence of 
        indebtedness
        
    (a) A mortgage (other than a mortgage under chapter 313 of title 
46), lease, equipment trust agreement, conditional sales agreement, or 
other instrument evidencing the mortgage, lease, conditional sale, or 
bailment of or security interest in vessels, railroad cars, locomotives, 
or other rolling stock, or accessories used on such railroad cars, 
locomotives, or other rolling stock (including superstructures and 
racks), intended for a use related to interstate commerce shall be filed 
with the Board in order to perfect the security interest that is the 
subject of such instrument. An assignment of a right or interest under 
one of those instruments and an amendment to that instrument or 
assignment including a release, discharge, or satisfaction of any part 
of it shall also be filed with the Board. The instrument, assignment, or 
amendment must be in writing, executed by the parties to it, and 
acknowledged or verified under Board regulations. When filed under this 
section, that document is notice to, and enforceable against, all 
persons. A document filed under this section does not have to be filed, 
deposited, registered, or recorded under another law of the United 
States, a State (or its political subdivisions), or territory or 
possession of the United States, related to filing, deposit, 
registration, or recordation of those documents. This section does not 
change chapter 313 of title 46.
    (b) The Board shall maintain a system for recording each document 
filed under subsection (a) of this section and mark each of them with a 
consecutive number and the date and hour of their recordation. The Board 
shall maintain and keep open for public inspection an index of documents 
filed under that subsection. That index shall include the name and 
address of the principal debtors, trustees, guarantors, and other 
parties to those documents and may include other facts that will assist 
in determining the rights of the parties to those transactions.
    (c) The Board may to the greatest extent practicable perform its 
functions under this section through contracts with private sector 
entities.
    (d) A mortgage, lease, equipment trust agreement, conditional sales 
agreement, or other instrument evidencing the mortgage, lease, 
conditional sale, or bailment of or security interest in vessels, 
railroad cars, locomotives, or other rolling stock, or accessories used 
on such railroad cars, locomotives, or other rolling stock (including 
superstructures and racks), or any assignment thereof, which--
        (1) is duly constituted under the laws of a country other than 
    the United States; and
        (2) relates to property that bears the reporting marks and 
    identification numbers of any person domiciled in or corporation 
    organized under the laws of such country,

shall be recognized with the same effect as having been filed under this 
section.
    (e) Interests with respect to which documents are filed or 
recognized under this section are deemed perfected in all jurisdictions, 
and shall be governed by applicable State or foreign law in all matters 
not specifically governed by this section.
    (f) The Board shall collect, maintain, and keep open for public 
inspection a railway equipment register consistent with the manner and 
format maintained by the Interstate Commerce Commission as of January 1, 
1996.

(Added Pub. L. 104-88, title I, Sec. 102(a), Dec. 29, 1995, 109 Stat. 
837; amended Pub. L. 104-287, Sec. 5(25), Oct. 11, 1996, 110 Stat. 
3390.)


                            Prior Provisions

    Provisions similar to those in this section were contained in 
section 11303 of this title prior to the general amendment of this 
subtitle by Pub. L. 104-88, Sec. 102(a).
    A prior section 11301, Pub. L. 95-473, Oct. 17, 1978, 92 Stat. 1428; 
Pub. L. 103-429, Sec. 6(16), Oct. 31, 1994, 108 Stat. 4379, related to 
authority of certain carriers to issue securities and assume obligations 
and liabilities, prior to the general amendment of this subtitle by Pub. 
L. 104-88, Sec. 102(a).
    A prior section 11302, Pub. L. 95-473, Oct. 17, 1978, 92 Stat. 1430; 
Pub. L. 96-296, Sec. 18(a), July 1, 1980, 96 Stat. 811, provided that 
section 11301 of this title applied to motor carriers and corporations 
subject to jurisdiction of Interstate Commerce Commission under former 
subchapter II of chapter 105 of this title, but did not apply to 
corporations under a certain capitalization, and that this section did 
not apply to Federal, State, or local governments, prior to repeal by 
Pub. L. 97-261, Secs. 19(a), 31(a), Sept. 20, 1982, 96 Stat. 1121, 1129, 
effective on the 60th day after Sept. 20, 1982.
    Prior sections 11303 and 11304 were omitted in the general amendment 
of this subtitle by Pub. L. 104-88, Sec. 102(a).
    Section 11303, Pub. L. 95-473, Oct. 17, 1978, 92 Stat. 1430; Pub. L. 
103-272, Sec. 5(m)(30), July 5, 1994, 108 Stat. 1378, related to filing 
and recording of mortgages, leases, equipment trusts, and other 
agreements with Interstate Commerce Commission. See section 11301 of 
this title.
    Section 11304, Pub. L. 95-473, Oct. 17, 1978, 92 Stat. 1431; Pub. L. 
96-258, Sec. 1(12), June 3, 1980, 94 Stat. 426, related to security 
interests in certain motor vehicles. See section 14301 of this title.


                               Amendments

    1996--Subsec. (f). Pub. L. 104-287 substituted ``January 1, 1996'' 
for ``the effective date of the ICC Termination Act of 1995''.


                             Effective Date

    Chapter effective Jan. 1, 1996, except as otherwise provided in Pub. 
L. 104-88, see section 2 of Pub. L. 104-88, set out as a note under 
section 701 of this title.

               Abolition of Interstate Commerce Commission

    Interstate Commerce Commission abolished by section 101 of Pub. L. 
104-88, set out as a note under section 701 of this title.

                  Section Referred to in Other Sections

    This section is referred to in section 24301 of this title; title 45 
sections 726, 791.
