45 U.S.C. § 914 — Obligation guarantees
submitted 47 years ago by Pub. L. 96-101 to r/title-45-RAILROADS · 228 words · no verdicts yet
This section concerns Obligation guarantees. It states the rules, requirements, limits, exceptions, and procedures contained in the section.
(a) Authorization The Secretary of Transportation, under the authority of section 831 of this title , must guarantee obligations of the Milwaukee Railroad* to apply providing employee* protection under the terms of the employee protection agreement entered into under section 908 of this title . Guarantees under this section must be entered into without regard to the requirements of subsection (g) of section 831 of this title . (b) Obligations as administrative expense Any obligation guaranteed pursuant to this section must be treated as an administrative expense of the estate of the Milwaukee Railroad. (c) Limit on aggregate unpaid principal amount The aggregate unpaid principal amount of obligations which may be guaranteed by the Secretary pursuant to this section must not exceed $75,000,000. (d) Limit on total liability The total liability of the Milwaukee Railroad in connection with benefits and allowances provided under an employee protection agreement entered into under section 908 of this title must not exceed $75,000,000. (e) Liability of United States respecting section 908 agreements Except in connection with obligations guaranteed under this section, the United States must incur no liability to employees in connection with any employee protection agreement entered into under section 908 of this title . (f) Applicability of section 22404 of title 49 Section 22404 of title 49 must not apply to any obligation guaranteed under this section.
The Secretary of Transportation, under the authority of section 831 of this title, shall guarantee obligations of the Milwaukee Railroad* for purposes of providing employee* protection in accordance with the terms of the employee protection agreement entered into under section 908 of this title. Guarantees under this section shall be entered into without regard to the requirements of subsection (g) of section 831 of this title.
Any obligation guaranteed pursuant to this section shall be treated as an administrative expense of the estate of the Milwaukee Railroad.
The aggregate unpaid principal amount of obligations which may be guaranteed by the Secretary pursuant to this section shall not exceed $75,000,000.
The total liability of the Milwaukee Railroad in connection with benefits and allowances provided under an employee protection agreement entered into under section 908 of this title shall not exceed $75,000,000.
Except in connection with obligations guaranteed under this section, the United States shall incur no liability to employees in connection with any employee protection agreement entered into under section 908 of this title.
Section 22404 of title 49 shall not apply to any obligation guaranteed under this section.
Source credit: (Pub. L. 96–101, § 15, Nov. 4, 1979, 93 Stat. 743; Pub. L. 96–448, title VII, § 701(a)(3), Oct. 14, 1980, 94 Stat. 1959; Pub. L. 117–58, div. B, title I, § 21301(j)(3)(E), Nov. 15, 2021, 135 Stat. 692.)
- 1979Enacted · Pub. L. 96-101 · 93 Stat. 743
- 1980Amended · Pub. L. 96-448 · 94 Stat. 1959
- 2021Amended · Pub. L. 117-58 · 135 Stat. 692
A history note hasn’t been published yet. The record shows enactment by Pub. L. 96-101 on 1979-11-04.
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