45 USC § 914 - Obligation guarantees

---
identifier: "/us/usc/t45/s914"
source: "usc"
legal_status: "official_prima_facie"
title: "45 USC § 914 - Obligation guarantees"
title_number: 45
title_name: "RAILROADS"
section_number: "914"
section_name: "Obligation guarantees"
chapter_number: 18
chapter_name: "MILWAUKEE RAILROAD RESTRUCTURING"
positive_law: false
currency: "119-84"
last_updated: "2024-06-14"
format_version: "1.1.0"
generator: "[email protected]"
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.)"
---


# § 914. Obligation guarantees

**(a)** **Authorization** section 831 of this titlesection 908 of this titlesection 831 of this title

The Secretary of Transportation, under the authority of , 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 . Guarantees under this section shall be entered into without regard to the requirements of subsection (g) of .

**(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** section 908 of this title

The total liability of the Milwaukee Railroad in connection with benefits and allowances provided under an employee protection agreement entered into under  shall not exceed $75,000,000.

**(e)** **Liability of United States respecting section 908 agreements** section 908 of this title

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 .

**(f)** **Applicability of section 22404 of title 49** Section 22404 of title 49

 shall not apply to any obligation guaranteed under this section.

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**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.)

## Editorial Notes

### References in Text

, referred to in subsec. (a), was repealed by , , , except for subsec. (c) of that section, which was renumbered and transferred to  by .  was subsequently repealed by , , .

### Amendments

2021—Subsec. (f).  substituted “” for “”.

1980—Subsec. (e).  inserted “to employees” after “no liability”.

## Statutory Notes and Related Subsidiaries

### Effective Date of 1980 Amendment

Amendment by  effective , see , set out as a note under , Bankruptcy.