Statute · United States Code
45 U.S.C. § 914 — Obligation guarantees
45 U.S.C. § 914
- Type
- Statute
- Source
- United States Code
- Jurisdiction
- Federal
- Date
- 2026-10-22
(a) Authorization 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. (b) Obligations as administrative expense Any obligation guaranteed pursuant to this section shall 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 shall 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 shall not exceed $75,000,000.
Citator
45 U.S.C. § 914 — Obligation guarantees is in force in the current edition of the Code, and nothing recorded condemns it.
(a) Authorization 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. (b) Obligations as administrative expense Any obligation guaranteed pursuant to this section shall 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 shall 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 shall 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 shall 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 shall not apply to any obligation guaranteed under this section.