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Title 45 — RailroadsRelease 119-73not60

§903 Sales and Transfers

Title 45 › Chapter 18— MILWAUKEE RAILROAD RESTRUCTURING › § 903

Last updated Apr 5, 2026|Official source

Summary

Allows the Milwaukee Railroad to negotiate and sign agreements to sell any or all railroad property it used in operations on October 15, 1979 to another carrier or to other buyers. The railroad may talk with the Secretary of Transportation while negotiating. Under section 333 of title 49, the Secretary may make plans, join negotiations, and recommend sale or transfer proposals to the trustee. The Secretary should favor financially responsible buyers, including government bodies that plan to offer common carrier service. Any sale or proposal must be filed with the bankruptcy court and cannot become final until the event in section 920(b) of this title or April 1, 1980, whichever comes first.

Full Legal Text

Title 45, §903

Railroads — Source: USLM XML via OLRC

(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, may develop plans, participate in negotiations, and recommend to the trustee proposals for the sale or transfer of any rail properties of the Milwaukee Railroad which are used in rail operations as of October 15, 1979. In taking action under this paragraph, the Secretary shall give preference to financially responsible persons, including governmental entities, negotiating for the purchase of any lines with the intent of providing common carrier service.
(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.

Legislative History

Notes & Related Subsidiaries

Editorial Notes

Codification In subsec. (b)(1), “section 333 of title 49” was substituted for “section 5(a)–(e) of the Department of Transportation Act [49 U.S.C. 1654(a)–(e)]”, on authority of Pub. L. 97–449, § 6(b), Jan. 12, 1983, 96 Stat. 2443, the first section of which enacted subtitle I (§ 101 et seq.) and chapter 31 (§ 3101 et seq.) of subtitle II of Title 49, Transportation.

Reference

Citations & Metadata

Citation

45 U.S.C. § 903

Title 45 — Railroads

Last Updated

Apr 5, 2026

Release point: 119-73not60