(a) Equipment trust obligations or certificates evidencing an interest in or lien upon transportation equipment used or to be used by a common carrier or carriers and a right to receive determined portions of fixed obligatory payments for the use or purchase of such equipment, when such obligations or certificates are issued and are unconditionally guaranteed as to principal and interest, and, as to the payment of such obligatory payments, by a corporation created or existing under the laws of the United States or any state, district or territory thereof, or the Dominion of Canada or any of its provinces, and when the face amount of such obligations or certificates does not exceed eighty percent (80%) of the purchase price of the transportation equipment. (b) No investment shall be made in any one issue described in this Section in an amount in excess of ten percent (10%) of such issue. SOURCE: GC § 4225.12. Repealed by P.L. 26-035:IV:27 (Sept. 28, 2001). Reenacted to its prior version by P.L. 26- 058:XI:10 (Nov. 20, 2001). 2025 NOTE: The Compiler has corrected manifest errors in past publications of the GCA, including omissions of legislative history.
COL 2026-05-05