
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: 49USC11328]

 
                        TITLE 49--TRANSPORTATION
 
                 SUBTITLE IV--INTERSTATE TRANSPORTATION
 
                              PART A--RAIL
 
                          CHAPTER 113--FINANCE
 
                       SUBCHAPTER II--COMBINATIONS
 
Sec. 11328. Restrictions on officers and directors

    (a) A person may hold the position of officer or director of more 
than one rail carrier only when authorized by the Board. The Board may 
authorize a person to hold the position of officer or director of more 
than one of those carriers when public or private interests will not be 
adversely affected.
    (b) This section shall not apply to an individual holding the 
position of officer or director only of Class III rail carriers.

(Added Pub. L. 104-88, title I, Sec. 102(a), Dec. 29, 1995, 109 Stat. 
843.)


                            Prior Provisions

    Provisions similar to those in this section were contained in 
section 11322 of this title prior to the general amendment of this 
subtitle by Pub. L. 104-88, Sec. 102(a).
    Prior sections 11341 to 11351 and 11361 to 11367 were omitted in the 
general amendment of this subtitle by Pub. L. 104-88, Sec. 102(a).
    Section 11341, Pub. L. 95-473, Oct. 17, 1978, 92 Stat. 1434; Pub. L. 
97-261, Sec. 21(a), Sept. 20, 1982, 96 Stat. 1122, related to exclusive 
authority of Interstate Commerce Commission under former sections 11341 
to 11351 of this title. See sections 11321, 14302, and 14303 of this 
title.
    Section 11342, Pub. L. 95-473, Oct. 17, 1978, 92 Stat. 1434; Pub. L. 
96-296, Sec. 20, July 1, 1980, 94 Stat. 811; Pub. L. 96-454, Sec. 5(c), 
Oct. 15, 1980, 94 Stat. 2014, related to limitation on pooling and 
division of transportation or earnings. See sections 11322 and 14302 of 
this title.
    Section 11343, Pub. L. 95-473, Oct. 17, 1978, 92 Stat. 1434; Pub. L. 
96-296, Sec. 18(b), July 1, 1980, 94 Stat. 811; Pub. L. 97-261, 
Sec. 21(b), Sept. 20, 1982, 96 Stat. 1122, related to consolidation, 
merger, and acquisition of control. See sections 11323 and 14303 of this 
title.
    Section 11344, Pub. L. 95-473, Oct. 17, 1978, 92 Stat. 1436; Pub. L. 
96-448, title II, Sec. 228(a)-(c), Oct. 14, 1980, 94 Stat. 1931; Pub. L. 
97-261, Sec. 21(f), (g), Sept. 20, 1982, 96 Stat. 1123; Pub. L. 98-216, 
Sec. 2(4), Feb. 14, 1984, 98 Stat. 5, related to general procedures and 
conditions of approval of consolidations, mergers, and acquisitions of 
control. See sections 11324 and 14303 of this title.
    Section 11345, Pub. L. 95-473, Oct. 17, 1978, 92 Stat. 1436; Pub. L. 
96-448, title II, Sec. 228(d), Oct. 14, 1980, 94 Stat. 1932, related to 
rail carrier procedures in consolidations, mergers, and acquisitions of 
control. See section 11325 of this title.
    Section 11345a, added Pub. L. 96-296, Sec. 27(a), July 1, 1980, 94 
Stat. 819; amended Pub. L. 97-261, Sec. 21(c), (d), Sept. 20, 1982, 96 
Stat. 1123, related to motor carrier procedures in consolidations, 
mergers, and acquisitions of control. See section 14303 of this title.
    Section 11346, Pub. L. 95-473, Oct. 17, 1978, 92 Stat. 1437; Pub. L. 
97-449, Sec. 5(g)(7), Jan. 12, 1983, 96 Stat. 2443, related to expedited 
rail carrier procedures in consolidations, mergers, and acquisitions of 
control.
    Section 11347, Pub. L. 95-473, Oct. 17, 1978, 92 Stat. 1439; Pub. L. 
98-216, Sec. 2(16), Feb. 14, 1984, 98 Stat. 5; Pub. L. 103-272, 
Sec. 5(m)(31), July 5, 1994, 108 Stat. 1378, related to employee 
protective arrangements in transactions involving rail carriers. See 
section 11326 of this title.
    Section 11348, Pub. L. 95-473, Oct. 17, 1978, 92 Stat. 1439; Pub. L. 
96-454, Sec. 8(b)(1), Oct. 15, 1980, 94 Stat. 2021; Pub. L. 97-261, 
Sec. 19(b), Sept. 20, 1982, 96 Stat. 1121; Pub. L. 97-449, Sec. 5(g)(8), 
Jan. 12, 1983, 96 Stat. 2443; Pub. L. 98-554, title II, Sec. 227(a)(3), 
Oct. 30, 1984, 98 Stat. 2852; Pub. L. 103-272, Sec. 5(m)(32), July 5, 
1994, 108 Stat. 1378; Pub. L. 103-429, Sec. 6(17), Oct. 31, 1994, 108 
Stat. 4379, related to Interstate Commerce Commission authority over 
noncarriers that acquire control of carriers. See section 14303 of this 
title.
    Section 11349, Pub. L. 95-473, Oct. 17, 1978, 92 Stat. 1439, related 
to temporary operating approval for transactions involving motor and 
water carriers. See section 14303 of this title.
    Section 11350, Pub. L. 95-473, Oct. 17, 1978, 92 Stat. 1440, related 
to responsibility of Secretary of Transportation in certain 
transactions.
    Section 11351, added Pub. L. 96-258, Sec. 1(13)(A), June 3, 1980, 94 
Stat. 427, related to orders by Interstate Commerce Commission 
supplemental to orders made in proceedings under former sections 11342 
to 11345 and 11347 of this title. See sections 11327 and 14303 of this 
title.
    Section 11361, Pub. L. 95-473, Oct. 17, 1978, 92 Stat. 1441; Pub. L. 
97-449, Sec. 5(g)(9), Jan. 12, 1983, 96 Stat. 2443; Pub. L. 98-216, 
Sec. 2(17), Feb. 14, 1984, 98 Stat. 5, related to exclusive authority of 
Interstate Commerce Commission over financial structure of carriers.
    Section 11362, Pub. L. 95-473, Oct. 17, 1978, 92 Stat. 1441, related 
to criteria for approval and authority to make changes in carrier 
financial structure.
    Section 11363, Pub. L. 95-473, Oct. 17, 1978, 92 Stat. 1442, related 
to assent of holders of securities and certain other instruments to 
changes in carrier financial structure.
    Section 11364, Pub. L. 95-473, Oct. 17, 1978, 92 Stat. 1443, related 
to procedure for obtaining assents of security holders to changes in 
financial structure.
    Section 11365, Pub. L. 95-473, Oct. 17, 1978, 92 Stat. 1443, related 
to effect of change in financial structure of carrier on other persons.
    Section 11366, Pub. L. 95-473, Oct. 17, 1978, 92 Stat. 1443, related 
to reports by carriers making change in financial structure.
    Section 11367, Pub. L. 95-473, Oct. 17, 1978, 92 Stat. 1444; Pub. L. 
98-216, Sec. 2(18), (19), Feb. 14, 1984, 98 Stat. 5, related to 
application of certain other laws to proposed changes in financial 
structure of carriers.
