45 U.S.C. § 1312
Public offering
United States · Title 45 — RAILROADS · Status: effective
Cite this
- Citation
- 45 U.S.C. § 1312, Public offering, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/487394
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Full text
If the Secretary of Transportation elects to offer for sale less than all the United States shares, the Secretary shall sell the remaining United States shares in subsequent public offerings.
Any public offering under this section may be made without the consent of the Corporation.
The Secretary of Transportation shall ensure that minority owned or controlled investment banking firms shall have an opportunity to participate to a significant degree in any public offering under this subchapter.
The Government Accountability Office may make such audits as may be deemed appropriate by the Comptroller General of the United States of all accounts, books, records, memoranda, correspondence, and other documents and transactions of the Corporation and the co-lead managers associated with the public offering. The co-lead managers shall agree, in writing, to allow the Government Accountability Office to make such audits. The Government Accountability Office shall report the results of all such audits to the Congress.
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.
- Omnibus Budget Reconciliation Act of 1986House: no recorded tallySenate: no recorded tally
- GAO Human Capital Reform Act of 2004House: 382–43Senate: no recorded tally