Minnesota § 222.86 - ACQUISITION REPORTING AND DISCLOSURE
Full text of Minnesota Minnesota Statutes § 222.86 — ACQUISITION REPORTING AND DISCLOSURE, with citation guidance and answers to common questions.
§ 222.86. ACQUISITION REPORTING AND DISCLOSURE
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.
History:
1988 c 676 s 2; 2003 c 2 art 4 s 15,16
Official Publication of the State of Minnesota
Revisor of Statutes
Frequently Asked Questions About Minnesota § 222.86
What does Minnesota Statutes § 222.86 cover?
Section 222.86 ("ACQUISITION REPORTING AND DISCLOSURE") is part of the Minnesota Statutes, the codified statutory law of Minnesota. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Minnesota § 222.86?
A common citation format is "Minnesota Statutes § 222.86" (Minnesota). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Minnesota law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Minnesota official source linked on this page or consult a licensed Minnesota attorney.
How does Minnesota § 222.86 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Minnesota can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Minnesota.