U.S Code last checked for updates: Jul 20, 2021
§ 903.
Sales and transfers
(a)
The Milwaukee Railroad may negotiate and enter into agreements to sell, to another rail carrier or any other person, all or any portion of its rail properties used in railroad operations as of October 15, 1979. Such sale agreements may in no event become final and effective until the occurrence of an event described in section 920(b) of this title, or April 1, 1980, whichever first occurs. In taking action under this subsection, the Milwaukee Railroad may consult with the Secretary of Transportation.
(b)
(1)
The Secretary of Transportation, under the authority of section 333 of title 49
(2)
Any sale or transfer proposal developed under paragraph (1) of this subsection shall be submitted to the bankruptcy court. Such a proposal may in no event become final or effective until the occurrence of an event described in section 920(b) of this title, or April 1, 1980, whichever first occurs.
(Pub. L. 96–101, § 4, Nov. 4, 1979, 93 Stat. 737.)
cite as: 45 USC 903