45 USC § 1115 - Redemption of stock

---
identifier: "/us/usc/t45/s1115"
source: "usc"
legal_status: "official_prima_facie"
title: "45 USC § 1115 - Redemption of stock"
title_number: 45
title_name: "RAILROADS"
section_number: "1115"
section_name: "Redemption of stock"
chapter_number: 20
chapter_name: "NORTHEAST RAIL SERVICE"
positive_law: false
currency: "119-84"
last_updated: "2024-06-14"
format_version: "1.1.0"
generator: "[email protected]"
source_credit: "(Pub. L. 97–35, title XI, § 1167(b), Aug. 13, 1981, 95 Stat. 686.)"
---


# 1 Redemption of stock

See References in Text note below.

section 746 of this title[^1]section 1105(a)(4) of this titlesection 746 of this title

For the purpose of computing the amount for which certificates of value shall be redeemable under , the series B preferred stock and the common stock conveyed to the Secretary under section 1107  of this title shall be deemed to be without fair market value unless in a proceeding brought under  the special court shall have determined that such securities had a value and shall have entered a judgment against the United States for that value. In such an event, the securities shall for purposes of  be deemed to have that value found by the special court.

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**Source Credit**: (Pub. L. 97–35, title XI, § 1167(b), Aug. 13, 1981, 95 Stat. 686.)

## Editorial Notes

### References in Text

, referred to in text, was repealed by , , .

### Codification

Section is comprised of subsec. (b) of . Subsec. (a) of section 1167 amended . Subsec. (c) of section 1167, which was set out as subsec. (b) of this section and which provided that the clerk of the special court convey to the Secretary certain series B preferred stock and common stock of Conrail on deposit with the court, and authorized the Secretary to hold and exercise all rights to such Conrail securities, was repealed by , , .