Title 45 — RailroadsRelease 119-73not60
§922 Employee Stock Ownership Plan for Surviving Portion of Milwaukee Railroad
Title 45 › Chapter 18— MILWAUKEE RAILROAD RESTRUCTURING › § 922
Summary
If section 920(b) leaves only part of the Milwaukee Railroad, any federal aid must require the trustee, the railroad, or both to try in good faith to set up an ESOP that buys stock worth 25% of the aid.
Full Legal Text
Title 45, §922
Railroads — Source: USLM XML via OLRC
If an event described in section 920(b) of this title occurs, resulting in the survival of less than the entire Milwaukee Railroad system, then any relief provided for such surviving Milwaukee Railroad system under the Emergency Rail Services Act of 1970 [45 U.S.C. 661 et seq.] or any other Federal legislation shall be conditioned upon good faith efforts by the trustee or the Milwaukee Railroad, or both, to establish an employee stock ownership plan which shall embrace the purchase or acquisition of qualifying employer securities of the Milwaukee Railroad equal in value to 25 per centum of the amount of such relief provided.
Legislative History
Notes & Related Subsidiaries
Editorial Notes
References in Text
The Emergency Rail Services Act of 1970, referred to in text, is Pub. L. 91–663, Jan. 8, 1971, 84 Stat. 1975, which is classified generally to chapter 15 (§ 661 et seq.) of this title. For complete classification of this Act to the Code, see
Short Title
note set out under section 661 of this title and Tables.
Reference
Citations & Metadata
Citation
45 U.S.C. § 922
Title 45 — Railroads
Last Updated
Apr 5, 2026
Release point: 119-73not60