Section 222.88 — Priority In Hiring.
222.88 PRIORITY IN HIRING. An acquiring carrier under sections 222.85 to 222.87 shall give priority in hiring, based upon length of service on the affected rail line, to employees of the divesting carrier performing service in connection with the affected rail line. To assert priority, the employee must be qualified by experience and training to […]
Section 222.87 — Preservation Of Contract, Legal Status.
222.87 PRESERVATION OF CONTRACT, LEGAL STATUS. Subdivision 1. Shipping contracts. An acquiring carrier succeeds to and is bound by the contracts, agreements, and understandings between the divesting carrier and any shipper within this state for a period equaling the stated term of the contract or six months, whichever is greater. Subd. 2. Government contract. An […]
Section 222.59 — Investment Of Funds.
222.59 INVESTMENT OF FUNDS. Money in the account not needed for the current operations of the commissioner related to insurance under section 222.58 may be deposited with the State Board of Investment. The Board of Investment may invest this money as provided for investment of moneys in the state treasury by section 11A.25. All interest […]
Section 222.60 — Maximum Amount Of Insurance Issued.
222.60 MAXIMUM AMOUNT OF INSURANCE ISSUED. Subdivision 1. Related to account balance. The commissioner shall not at any time issue insurance under section 222.58 aggregating in excess of an amount equal to the current balance contained in the account multiplied by ten. Subd. 2. When account balance falls. Any insurance properly issued under the provisions […]
Section 222.62 — Cooperation Of Other State Agencies.
222.62 COOPERATION OF OTHER STATE AGENCIES. Upon the request of the commissioner, the commissioner of employment and economic development and the commissioner of commerce shall provide technical assistance and shall otherwise cooperate in carrying out the provisions of sections 222.55 to 222.62. History: 1978 c 667 s 8; 1980 c 516 s 2; 1981 c […]
Section 222.63 — Abandoned Right-of-way; State Rail Bank.
222.63 ABANDONED RIGHT-OF-WAY; STATE RAIL BANK. Subdivision 1. Definitions. The terms defined in section 222.48 have the same meanings when used in this section. Other terms used in this section have the following meanings: (a) “Abandoned,” when used with reference to a rail line or right-of-way, means a line or right-of-way with respect to which […]
Section 222.631 — Definitions.
222.631 DEFINITIONS. Subdivision 1. Terms. For purposes of sections 222.631 and 222.632, the following terms have the meanings given them. Subd. 2. Fair market value. “Fair market value” means the price negotiated between the parties under section 222.632, or the market value of the property minus the value of any leasehold improvements, as determined by […]
Section 222.632 — Right Of First Refusal.
222.632 RIGHT OF FIRST REFUSAL. A railroad interest that is in bankruptcy proceedings may not sell or offer for sale an interest in real property that is within the right-of-way, a railroad interest that is abandoning a railroad line may not sell or offer for sale an interest in real property within the right-of-way to […]
Section 222.64 — Employment Preference.
222.64 EMPLOYMENT PREFERENCE. Individuals who have been previously employed by railroads, whose users obtain guaranteed loans or other assistance pursuant to sections 222.46 to 222.64, shall have priority, based upon their length of service with that railroad, in employment with a purchasing carrier or other operator of a railroad benefiting from those loans or other […]
Section 222.85 — Definitions.
222.85 DEFINITIONS. Subdivision 1. Scope. For the purposes of sections 222.85 to 222.88, the following terms have the meanings given them in this section. Subd. 2. Acquiring carrier. “Acquiring carrier” means a business entity that acquires by purchase, lease, or other device a line of railroad, except carriers acquiring an abandoned line, with the intent […]