
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: 49USC14303]

 
                        TITLE 49--TRANSPORTATION
 
                 SUBTITLE IV--INTERSTATE TRANSPORTATION
 
 PART B--MOTOR CARRIERS, WATER CARRIERS, BROKERS, AND FREIGHT FORWARDERS
 
                          CHAPTER 143--FINANCE
 
Sec. 14303. Consolidation, merger, and acquisition of control of 
        motor carriers of passengers
        
    (a) Approval Required.--The following transactions involving motor 
carriers of passengers subject to jurisdiction under subchapter I of 
chapter 135 may be carried out only with the approval of the Board:
        (1) Consolidation or merger of the properties or franchises of 
    at least 2 carriers into one operation for the ownership, 
    management, and operation of the previously separately owned 
    properties.
        (2) A purchase, lease, or contract to operate property of 
    another carrier by any number of carriers.
        (3) Acquisition of control of a carrier by any number of 
    carriers.
        (4) Acquisition of control of at least 2 carriers by a person 
    that is not a carrier.
        (5) Acquisition of control of a carrier by a person that is not 
    a carrier but that controls any number of carriers.

    (b) Standard for Approval.--The Board shall approve and authorize a 
transaction under this section when it finds the transaction is 
consistent with the public interest. The Board shall consider at least 
the following:
        (1) The effect of the proposed transaction on the adequacy of 
    transportation to the public.
        (2) The total fixed charges that result from the proposed 
    transaction.
        (3) The interest of carrier employees affected by the proposed 
    transaction.

The Board may impose conditions governing the transaction.
    (c) Determination of Completeness of Application.--Within 30 days 
after the date on which an application is filed under this section, the 
Board shall either publish a notice of the application in the Federal 
Register or reject the application if it is incomplete.
    (d) Comments.--Written comments about an application may be filed 
with the Board within 45 days after the date on which notice of the 
application is published under subsection (c).
    (e) Deadlines.--The Board shall conclude evidentiary proceedings by 
the 240th day after the date on which notice of the application is 
published under subsection (c). The Board shall issue a final decision 
by the 180th day after the conclusion of the evidentiary proceedings. 
The Board may extend a time period under this subsection; except that 
the total of all such extensions with respect to any application shall 
not exceed 90 days.
    (f) Effect of Approval.--A carrier or corporation participating in 
or resulting from a transaction approved by the Board under this 
section, or exempted by the Board from the application of this section 
pursuant to section 13541, may carry out the transaction, own and 
operate property, and exercise control or franchises acquired through 
the transaction without the approval of a State authority. A carrier, 
corporation, or person participating in the approved or exempted 
transaction is exempt from the antitrust laws and from all other law, 
including State and municipal law, as necessary to let that person carry 
out the transaction, hold, maintain, and operate property, and exercise 
control or franchises acquired through the transaction.
    (g) Limitation on Applicability.--This section shall not apply to 
transactions involving carriers whose aggregate gross operating revenues 
were not more than $2,000,000 during a period of 12 consecutive months 
ending not more than 6 months before the date of the agreement of the 
parties.
    (h) Applicability of Certain Provisions.--When the Board approves 
and authorizes a transaction under this section in which a person not a 
carrier providing transportation subject to jurisdiction under 
subchapter I of chapter 135 acquires control of at least 1 carrier 
subject to such jurisdiction, the person is subject, as a carrier, to 
the following provisions of this title that apply to the carrier being 
acquired by that person, to the extent specified by the Board: sections 
504(f), 14121-14123, 14901(a), and 14907.
    (i) Interim Approval.--Pending determination of an application filed 
under this section, the Board may approve, for a period of not more than 
180 days, the operation of the properties sought to be acquired by the 
person proposing in the application to acquire those properties, when it 
appears that failure to do so may result in destruction of or injury to 
those properties or substantially interfere with their future usefulness 
in providing adequate and continuous service to the public. 
Transportation provided by a motor carrier under a grant of approval 
under this subsection is subject to this part.
    (j) Supplemental Orders.--When cause exists, the Board may issue 
appropriate orders supplemental to an order made in a proceeding under 
this section.

(Added Pub. L. 104-88, title I, Sec. 103, Dec. 29, 1995, 109 Stat. 897.)

                        Reference in Text

    The antitrust laws, referred to in subsec. (f), are classified 
generally to section 1 et seq. of Title 15, Commerce and Trade.


                            Prior Provisions

    Provisions similar to those in this section were contained in 
sections 11341, 11343, 11344, 11345a, 11348, 11349, and 11351 of this 
title prior to the general amendment of this subtitle by Pub. L. 104-88, 
Sec. 102(a).
