Statutory Authority

§ 11144

TITLE 49—TRANSPORTATION

§ 11144. Records: form; inspection; preservation
(a) The Board may prescribe the form of
records required to be prepared or compiled
under this subchapter—
(1) by rail carriers and lessors, including
records related to movement of traffic and receipts and expenditures of money; and
(2) by persons furnishing cars to or for a rail
carrier providing transportation subject to the
jurisdiction of the Board under this part to the
extent related to those cars or that service.
(b) The Board, or an employee designated by
the Board, may on demand and display of proper
credentials—
(1) inspect and examine the lands, buildings,
and equipment of a rail carrier or lessor; and
(2) inspect and copy any record of—
(A) a rail carrier, lessor, or association;
(B) a person controlling, controlled by, or
under common control with a rail carrier if
the Board considers inspection relevant to
that person’s relation to, or transaction
with, that rail carrier; and
(C) a person furnishing cars to or for a rail
carrier if the Board prescribed the form of
that record.
(c) The Board may prescribe the time period
during which operating, accounting, and financial records must be preserved by rail carriers,
lessors, and persons furnishing cars.
(Added Pub. L. 104–88, title I, § 102(a), Dec. 29,
1995, 109 Stat. 835.)
PRIOR PROVISIONS
A prior section 11144, Pub. L. 95–473, Oct. 17, 1978, 92
Stat. 1426; Pub. L. 96–296, § 24(c), July 1, 1980, 94 Stat.
816, related to form, inspection, and preservation of
records, prior to the general amendment of this subtitle by Pub. L. 104–88, § 102(a). See sections 11144, 14122,
and 15722 of this title.

§ 11145. Reports by rail carriers, lessors, and associations
(a) The Board may require—
(1) rail carriers, lessors, and associations, or
classes of them as the Board may prescribe, to
file annual, periodic, and special reports with
the Board containing answers to questions
asked by it; and
(2) a person furnishing cars to a rail carrier
to file reports with the Board containing answers to questions about those cars.
(b)(1) An annual report shall contain an account, in as much detail as the Board may require, of the affairs of the rail carrier, lessor, or
association for the 12-month period ending on
December 31 of each year.
(2) An annual report shall be filed with the
Board by the end of the third month after the
end of the year for which the report is made unless the Board extends the filing date or changes
the period covered by the report. The annual report and, if the Board requires, any other report
made under this section, shall be made under
oath.
(Added Pub. L. 104–88, title I, § 102(a), Dec. 29,
1995, 109 Stat. 835.)
PRIOR PROVISIONS
A prior section 11145, Pub. L. 95–473, Oct. 17, 1978, 92
Stat. 1427; Pub. L. 96–296, § 5(b), July 1, 1980, 94 Stat. 796,

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related to reports by carriers, lessors, and associations,
prior to the general amendment of this subtitle by Pub.
L. 104–88, § 102(a). See sections 11145, 14123, and 15723 of
this title.

SUBCHAPTER IV—RAILROAD COST
ACCOUNTING
§ 11161. Implementation of cost accounting principles
The Board shall periodically review its cost
accounting rules and shall make such changes in
those rules as are required to achieve the regulatory purposes of this part. The Board shall insure that the rules promulgated under this section are the most efficient and least burdensome
means by which the required information may
be developed for regulatory purposes. To the
maximum extent practicable, the Board shall
conform such rules to generally accepted accounting principles.
(Added Pub. L. 104–88, title I, § 102(a), Dec. 29,
1995, 109 Stat. 835.)
PRIOR PROVISIONS
Provisions similar to those in this section were contained in section 11163 of this title prior to the general
amendment of this subtitle by Pub. L. 104–88, § 102(a).
A prior section 11161, added Pub. L. 96–448, title III,
§ 302(a), Oct. 14, 1980, 94 Stat. 1934, related to Railroad
Accounting Principles Board, prior to the general
amendment of this subtitle by Pub. L. 104–88, § 102(a).

§ 11162. Rail carrier cost accounting system
(a) Each rail carrier shall have and maintain a
cost accounting system that is in compliance
with the rules promulgated by the Board under
section 11161 of this title. A rail carrier may,
after notifying the Board, make modifications
in such system unless, within 60 days after the
date of notification, the Board finds such modifications to be inconsistent with the rules promulgated by the Board under section 11161 of
this title.
(b) For purposes of determining whether the
cost accounting system of a rail carrier is in
compliance with the rules promulgated by the
Board, the Board shall have the right to examine and make copies of any documents, papers,
or records of such rail carrier relating to compliance with such rules. Such documents, papers, and records (and any copies thereof) shall
not be subject to the mandatory disclosure requirements of section 552 of title 5.
(Added Pub. L. 104–88, title I, § 102(a), Dec. 29,
1995, 109 Stat. 836.)
PRIOR PROVISIONS
Provisions similar to those in this section were contained in section 11164 of this title prior to the general
amendment of this subtitle by Pub. L. 104–88, § 102(a).
A prior section 11162, added Pub. L. 96–448, title III,
§ 302(a), Oct. 14, 1980, 94 Stat. 1935; amended Pub. L.
103–272, § 4(j)(30), July 5, 1994, 108 Stat. 1370, related to
cost accounting principles, prior to the general amendment of this subtitle by Pub. L. 104–88, § 102(a).

§ 11163. Cost availability
As required by the rules of the Board governing discovery in Board proceedings, rail carriers
shall make relevant cost data available to ship-

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TITLE 49—TRANSPORTATION

pers, States, ports, communities, and other interested parties that are a party to a Board proceeding in which such data are required.
(Added Pub. L. 104–88, title I, § 102(a), Dec. 29,
1995, 109 Stat. 836.)
PRIOR PROVISIONS
Provisions similar to those in this section were contained in section 11165 of this title prior to the general
amendment of this subtitle by Pub. L. 104–88, § 102(a).
A prior section 11163, added Pub. L. 96–448, title III,
§ 302(a), Oct. 14, 1980, 94 Stat. 1936; amended Pub. L.
103–272, § 4(j)(31), July 5, 1994, 108 Stat. 1370, related to
implementation of cost accounting principles, prior to
the general amendment of this subtitle by Pub. L.
104–88, § 102(a). See section 11161 of this title.

§ 11164. Accounting and cost reporting
To obtain expense and revenue information for
regulatory purposes, the Board may promulgate
reasonable rules for rail carriers providing
transportation subject to the jurisdiction of the
Board under this part, prescribing expense and
revenue accounting and reporting requirements
consistent with generally accepted accounting
principles uniformly applied to such carriers.
Such requirements shall be cost effective and
compatible with and not duplicative of the managerial and responsibility accounting requirements of those carriers.
(Added Pub. L. 104–88, title I, § 102(a), Dec. 29,
1995, 109 Stat. 836.)
PRIOR PROVISIONS
Provisions similar to those in this section were contained in section 11166 of this title prior to the general
amendment of this subtitle by Pub. L. 104–88, § 102(a).
Prior sections 11164 to 11168 were omitted in the general amendment of this subtitle by Pub. L. 104–88,
§ 102(a).
Section 11164, added Pub. L. 96–448, title III, § 302(a),
Oct. 14, 1980, 94 Stat. 1936, related to certification of
rail carrier cost accounting systems. See section 11162
of this title.
Section 11165, added Pub. L. 96–448, title III, § 302(a),
Oct. 14, 1980, 94 Stat. 1937, related to cost data availability. See section 11163 of this title.
Section 11166, added Pub. L. 96–448, title III, § 302(a),
Oct. 14, 1980, 94 Stat. 1937; amended Pub. L. 103–272,
§ 4(j)(32), July 5, 1994, 108 Stat. 1370, related to accounting and cost reporting. See section 11164 of this title.
Section 11167, added Pub. L. 96–448, title III, § 302(a),
Oct. 14, 1980, 94 Stat. 1938; amended Pub. L. 103–272,
§ 4(j)(33), July 5, 1994, 108 Stat. 1370, related to reports
to Congress by Railroad Accounting Principles Board.
Section 11168, added Pub. L. 96–448, title III, § 302(a),
Oct. 14, 1980, 94 Stat. 1938, authorized appropriations for
fiscal years 1981 to 1983.

CHAPTER 113—FINANCE
SUBCHAPTER I—EQUIPMENT TRUSTS AND
SECURITY INTERESTS
Sec.

11301.

Equipment trusts: recordation; evidence of
indebtedness.
SUBCHAPTER II—COMBINATIONS

11321.
11322.
11323.
11324.

Scope of authority.
Limitation on pooling and division of transportation or earnings.
Consolidation, merger, and acquisition of
control.
Consolidation, merger, and acquisition of
control: conditions of approval.

§ 11301

Sec.

11325.
11326.
11327.
11328.

Consolidation, merger, and acquisition of
control: procedure.
Employee protective arrangements in transactions involving rail carriers.
Supplemental orders.
Restrictions on officers and directors.

SUBCHAPTER I—EQUIPMENT TRUSTS AND
SECURITY INTERESTS
§ 11301. Equipment trusts: recordation; evidence
of indebtedness
(a) A mortgage (other than a mortgage under
chapter 313 of title 46), lease, equipment trust
agreement, conditional sales agreement, or
other instrument evidencing the mortgage,
lease, conditional sale, or bailment of or security interest in vessels, railroad cars, locomotives, or other rolling stock, or accessories
used on such railroad cars, locomotives, or other
rolling stock (including superstructures and
racks), intended for a use related to interstate
commerce shall be filed with the Board in order
to perfect the security interest that is the subject of such instrument. An assignment of a
right or interest under one of those instruments
and an amendment to that instrument or assignment including a release, discharge, or satisfaction of any part of it shall also be filed with the
Board. The instrument, assignment, or amendment must be in writing, executed by the parties to it, and acknowledged or verified under
Board regulations. When filed under this section, that document is notice to, and enforceable against, all persons. A document filed under
this section does not have to be filed, deposited,
registered, or recorded under another law of the
United States, a State (or its political subdivisions), or territory or possession of the United
States, related to filing, deposit, registration, or
recordation of those documents. This section
does not change chapter 313 of title 46.
(b) The Board shall maintain a system for recording each document filed under subsection
(a) of this section and mark each of them with
a consecutive number and the date and hour of
their recordation. The Board shall maintain and
keep open for public inspection an index of documents filed under that subsection. That index
shall include the name and address of the principal debtors, trustees, guarantors, and other
parties to those documents and may include
other facts that will assist in determining the
rights of the parties to those transactions.
(c) The Board may to the greatest extent practicable perform its functions under this section
through contracts with private sector entities.
(d) A mortgage, lease, equipment trust agreement, conditional sales agreement, or other instrument evidencing the mortgage, lease, conditional sale, or bailment of or security interest in
vessels, railroad cars, locomotives, or other rolling stock, or accessories used on such railroad
cars, locomotives, or other rolling stock (including superstructures and racks), or any assignment thereof, which—
(1) is duly constituted under the laws of a
country other than the United States; and
(2) relates to property that bears the reporting marks and identification numbers of any
person domiciled in or corporation organized
under the laws of such country,