49 U.S.C. § 11328 - Restrictions on officers and directors

• Cite as: 49 U.S.C. § 11328

(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.

Cite as 49 U.S.C. § 11328

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

Notes from the Office of Law Revision Counsel

current through 7/7/2021

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, §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, §102(a).

Section 11341, Pub. L. 95-473, Oct. 17, 1978, 92 Stat. 1434; Pub. L. 97-261, §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, §20, July 1, 1980, 94 Stat. 811; Pub. L. 96-454, §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, §18(b), July 1, 1980, 94 Stat. 811; Pub. L. 97-261, §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, §228(a)-(c), Oct. 14, 1980, 94 Stat. 1931; Pub. L. 97-261, §21(f), (g), Sept. 20, 1982, 96 Stat. 1123; Pub. L. 98-216, §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, §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, §27(a), July 1, 1980, 94 Stat. 819; amended Pub. L. 97-261, §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.