
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: 49USC11323]

 
                        TITLE 49--TRANSPORTATION
 
                 SUBTITLE IV--INTERSTATE TRANSPORTATION
 
                              PART A--RAIL
 
                          CHAPTER 113--FINANCE
 
                       SUBCHAPTER II--COMBINATIONS
 
Sec. 11323. Consolidation, merger, and acquisition of control

    (a) The following transactions involving rail carriers providing 
transportation subject to the jurisdiction of the Board under this part 
may be carried out only with the approval and authorization of the 
Board:
        (1) Consolidation or merger of the properties or franchises of 
    at least 2 rail carriers into one corporation for the ownership, 
    management, and operation of the previously separately owned 
    properties.
        (2) A purchase, lease, or contract to operate property of 
    another rail carrier by any number of rail carriers.
        (3) Acquisition of control of a rail carrier by any number of 
    rail carriers.
        (4) Acquisition of control of at least 2 rail carriers by a 
    person that is not a rail carrier.
        (5) Acquisition of control of a rail carrier by a person that is 
    not a rail carrier but that controls any number of rail carriers.
        (6) Acquisition by a rail carrier of trackage rights over, or 
    joint ownership in or joint use of, a railroad line (and terminals 
    incidental to it) owned or operated by another rail carrier.

    (b) A person may carry out a transaction referred to in subsection 
(a) of this section or participate in achieving the control or 
management, including the power to exercise control or management, in a 
common interest of more than one of those rail carriers, regardless of 
how that result is reached, only with the approval and authorization of 
the Board under this subchapter. In addition to other transactions, each 
of the following transactions are considered achievements of control or 
management:
        (1) A transaction by a rail carrier that has the effect of 
    putting that rail carrier and person affiliated with it, taken 
    together, in control of another rail carrier.
        (2) A transaction by a person affiliated with a rail carrier 
    that has the effect of putting that rail carrier and persons 
    affiliated with it, taken together, in control of another rail 
    carrier.
        (3) A transaction by at least 2 persons acting together (one of 
    whom is a rail carrier or is affiliated with a rail carrier) that 
    has the effect of putting those persons and rail carriers and 
    persons affiliated with any of them, or with any of those affiliated 
    rail carriers, taken together, in control of another rail carrier.

    (c) A person is affiliated with a rail carrier under this subchapter 
if, because of the relationship between that person and a rail carrier, 
it is reasonable to believe that the affairs of another rail carrier, 
control of which may be acquired by that person, will be managed in the 
interest of the other rail carrier.

(Added Pub. L. 104-88, title I, Sec. 102(a), Dec. 29, 1995, 109 Stat. 
838.)


                            Prior Provisions

    Provisions similar to those in this section were contained in 
section 11343 of this title prior to the general amendment of this 
subtitle by Pub. L. 104-88, Sec. 102(a).
    A prior section 11323, Pub. L. 95-473, Oct. 17, 1978, 92 Stat. 1433; 
Pub. L. 99-521, Sec. 10(a), (b)(1), Oct. 22, 1986, 100 Stat. 2997, 
related to limitation on ownership of other carriers by household goods 
freight forwarders, prior to the general amendment of this subtitle by 
Pub. L. 104-88, Sec. 102(a).

                  Section Referred to in Other Sections

    This section is referred to in sections 333, 11324, 11327 of this 
title.
