49 U.S.C. § 14303 — Consolidation, merger, and acquisition of control of motor carriers of passengers
submitted 31 years ago by Pub. L. 104-88 to r/title-49-TRANSPORTATION · 724 words · no verdicts yet
Passenger motor carriers need Board approval for specified mergers, purchases, and changes of control. The Board must find that a transaction is consistent with the public interest and must follow the section’s notice, comment, evidentiary, and decision deadlines. The section also states the effects of approval and several limits and related rules.
(a) Approval Required. These transactions involving passenger motor carriers need Board* approval: (1) merging two or more carriers' property or franchises into one operation; (2) one carrier* buying, leasing, or contracting to run another carrier's property; (3) a carrier or carriers acquiring control of a carrier; (4) a non-carrier acquiring control of two or more carriers; or (5) a non-carrier that already controls carriers acquiring control of another carrier.
(b) Standard for Approval. The Board approves a transaction it finds consistent with the public interest, considering at least: (1) the effect on adequate public transportation*; (2) the total fixed costs the deal creates; and (3) the interest of affected carrier employees. The Board may attach conditions.
(c) Determination of Completeness of Application. Within 30 days of an application being filed, the Board must either publish notice of it in the Federal Register or reject it as incomplete.
(d) Comments. Any person may file written comments about an application with the Board within 45 days after notice of the application is published.
(e) Deadlines. The Board must finish evidentiary proceedings within 240 days after the notice is published, and issue a final decision within 180 days after that. The Board may extend these deadlines, but all extensions together cannot exceed 90 days.
(f) Effect of Approval. A carrier or corporation participating in or resulting from a transaction approved by the Board, or exempted by the Board from this section under section 13541, may carry out the transaction, own and operate property, and exercise control or franchises acquired through the transaction without approval from a State* authority. A carrier, corporation, or person participating in the approved or exempted transaction is exempt from the antitrust laws and from all other law, including State and municipal law, as necessary to let that carrier, corporation, or person carry out the transaction, hold, maintain, and operate property, and exercise control or franchises acquired through the transaction.
(g) Limitation on Applicability. This section does not apply to carriers whose combined gross revenue was $2,000,000 or less over the 12 months ending no more than 6 months before the parties' agreement.
(h) Applicability of Certain Provisions. When a non-carrier acquires control of at least one covered carrier under this section, that person becomes subject, as a carrier, to sections 504(f), 14121-14123, 14901(a), and 14907, to the extent the Board specifies.
(i) Interim Approval. While an application is pending, the Board may approve operation of the property being acquired for up to 180 days, if not doing so risks damage to the property or interferes with continuous public service. Transportation under this interim approval follows this part.
(j) Supplemental Orders. When there is good cause, the Board may issue further orders on top of an order made under this section.
The following transactions involving motor carriers of passengers subject to jurisdiction under subchapter I of chapter 135 may be carried out only with the approval of the Board*:
Consolidation or merger of the properties or franchises of at least 2 carriers into one operation for the ownership, management, and operation of the previously separately owned properties.
A purchase, lease, or contract to operate property of another carrier* by any number of carriers.
Acquisition of control of a carrier by any number of carriers.
Acquisition of control of at least 2 carriers by a person that is not a carrier.
Acquisition of control of a carrier by a person that is not a carrier but that controls any number of carriers.
The Board shall approve and authorize a transaction under this section when it finds the transaction is consistent with the public interest. The Board shall consider at least the following:
The effect of the proposed transaction on the adequacy of transportation* to the public.
The total fixed charges that result from the proposed transaction.
The interest of carrier employees affected by the proposed transaction.
The Board may impose conditions governing the transaction.
Within 30 days after the date on which an application is filed under this section, the Board shall either publish a notice of the application in the Federal Register or reject the application if it is incomplete.
Written comments about an application may be filed with the Board within 45 days after the date on which notice of the application is published under subsection (c).
The Board shall conclude evidentiary proceedings by the 240th day after the date on which notice of the application is published under subsection (c). The Board shall issue a final decision by the 180th day after the conclusion of the evidentiary proceedings. The Board may extend a time period under this subsection; except that the total of all such extensions with respect to any application shall not exceed 90 days.
A carrier or corporation participating in or resulting from a transaction approved by the Board under this section, or exempted by the Board from the application of this section pursuant to section 13541, may carry out the transaction, own and operate property, and exercise control or franchises acquired through the transaction without the approval of a State* authority. A carrier, corporation, or person participating in the approved or exempted transaction is exempt from the antitrust laws and from all other law, including State and municipal law, as necessary to let that person carry out the transaction, hold, maintain, and operate property, and exercise control or franchises acquired through the transaction.
This section shall not apply to transactions involving carriers whose aggregate gross operating revenues were not more than $2,000,000 during a period of 12 consecutive months ending not more than 6 months before the date of the agreement of the parties.
When the Board approves and authorizes a transaction under this section in which a person not a carrier providing transportation subject to jurisdiction under subchapter I of chapter 135 acquires control of at least 1 carrier subject to such jurisdiction, the person is subject, as a carrier, to the following provisions of this title that apply to the carrier being acquired by that person, to the extent specified by the Board: sections 504(f), 14121–14123, 14901(a), and 14907.
Pending determination of an application filed under this section, the Board may approve, for a period of not more than 180 days, the operation of the properties sought to be acquired by the person proposing in the application to acquire those properties, when it appears that failure to do so may result in destruction of or injury to those properties or substantially interfere with their future usefulness in providing adequate and continuous service to the public. Transportation provided by a motor carrier* under a grant of approval under this subsection is subject to this part.
When cause exists, the Board may issue appropriate orders supplemental to an order made in a proceeding under this section.
Source credit: (Added Pub. L. 104–88, title I, § 103, Dec. 29, 1995, 109 Stat. 897.)
- 1995Enacted · Pub. L. 104-88 · 109 Stat. 897
A history note hasn’t been published yet. The record shows enactment by Pub. L. 104-88 on 1995-12-29.
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