Subdivision 1. Notice of exempt transaction. An acquiring carrier shall submit written notification to the attorney general and the commissioner of transportation of its intent to initiate an exempt transaction under Code of Federal Regulations, title 49, part 1150, at least 14 days before filing a notice of exemption with the Surface Transportation Board.
Subd. 2. Identity and financial information. The notification must designate the complete private or corporate identity of the acquiring carrier, the complete identity of the divesting carrier, and a thorough description of the line of railroad involved.
Subd. 3. Applicability to requirements of law. Acquiring and divesting carriers shall attend conferences with the attorney general or the commissioner of transportation prior to filing a notice of exemption with the Surface Transportation Board. The divesting and acquiring carriers shall respond to questions and requests for information related to the issue of whether the proposed transaction is consistent with the requirements of the Surface Transportation Board, other applicable federal law, and state law. Copies of the sale contract, market and feasibility studies, and full financial information as to the acquiring carrier must be provided at those conferences.
All information, submitted by the acquiring and divesting carriers as confidential, shall remain nonpublic data and private data on individuals in accordance with chapter 13 and shall not be divulged to any outside parties, except to the Surface Transportation Board as a part of a filing in relation to the proposed transaction. The attorney general and the commissioner of transportation shall take the necessary steps to assure confidentiality.
1988 c 676 s 2; 2003 c 2 art 4 s 15,16
Structure Minnesota Statutes
Chapter 222 — Railroad Commerce And Property
Section 222.01 — Air Rights Affecting Public Service Company.
Section 222.025 — Right-of-way, Easement, Procedure.
Section 222.05 — Municipal Transfer Of Public Land.
Section 222.26 — Right-of-way Over Public Way.
Section 222.27 — Power To Acquire Property.
Section 222.29 — Contractor's Bond; Liability Of Company.
Section 222.30 — Liability Of Company After Notice.
Section 222.33 — Office In State.
Section 222.34 — Land Grant Railroad Company.
Section 222.36 — Power Of Eminent Domain In Certain Cases.
Section 222.37 — Public Road; Use, Restriction.
Section 222.46 — Rail Service Improvement Act; Purpose.
Section 222.49 — Rail Service Improvement Accounts; Appropriation.
Section 222.50 — Rail Service Improvement Program.
Section 222.51 — Participation By Political Subdivision.
Section 222.52 — Cooperation Between States.
Section 222.53 — Acceptance Of Federal Money.
Section 222.54 — Access To Information.
Section 222.545 — Advocacy Of Improved Service.
Section 222.55 — Rail User And Rail Carrier Loan Guarantee Program; Purpose.
Section 222.57 — Rail User And Rail Carrier Loan Guarantee Account.
Section 222.58 — Insurance Of Loan.
Section 222.59 — Investment Of Funds.
Section 222.60 — Maximum Amount Of Insurance Issued.
Section 222.62 — Cooperation Of Other State Agencies.
Section 222.63 — Abandoned Right-of-way; State Rail Bank.
Section 222.631 — Definitions.
Section 222.632 — Right Of First Refusal.
Section 222.64 — Employment Preference.
Section 222.86 — Acquisition Reporting And Disclosure.