45 U.S.C. § 922
Employee stock ownership plan for surviving portion of Milwaukee Railroad
United States · Title 45 — RAILROADS · Status: effective
Cite this
- Citation
- 45 U.S.C. § 922, Employee stock ownership plan for surviving portion of Milwaukee Railroad, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/487334
- Permanent ID
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Full text
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
The public laws that enacted or amended this section. Tallies are for the whole bill as it passed each chamber — often an omnibus covering far more than this provision — not a vote on this section alone.
- An act to provide for the orderly restructuring of the Milwaukee Railroad, and for the protection of the employees of such railroad.House: no recorded tallySenate: no recorded tally