PUBLIC LAW 99-509—OCT. 21, 1986
100 STAT. 1909
(A) in subsection (a)(1), by striking out all after "railroad" through "1981)"; and (B) in subsection (b)(2)(C), by striking out all after "costs" the second time it appears through "subsidy". (4) Subsection (b)(1) of section 509 of the Railroad Revitalization and Regulatory Reform Act of 1976 (45 U.S.C. 829) is repealed. (5) Section 511(e) of the Railroad Revitalization and Regulatory Reform Act of 1976 (45 U.S.C. 831(e)) is amended— (A) by striking out "(1)" in the first paragraph; (B) by striking all that follows "time" in the first paragraph and inserting in lieu thereof a period; and (C) by striking out paragraph (2). (6) Section 402 of the Rail Safety and Service Improvement Act of 1982 (45 U.S.C. 825a) is repealed. (7) Section 10362(b)(7)(A) of title 49, United States Code, is amended by striking out "by the Consolidated Rail Corporation or". SEC. 4034. EXEMPTION FROM LIABILITY.
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45 USC 1342.
(a) IN GENERAL.—No person referred to in section 216(f)(8)(C)(i), (ii), or (iii) of the Regional Rail Reorganization Act of 1973 (45 U.S.C. 726(f)(8)(C)(i), (ii), or (iii)) shall be liable, for money damages or otherwise, to any party if, with respect to the subject matter of the action, suit, or proceeding, such person was fulfilling a duty, in connection with any action taken under this part, which such person in good faith reasonably believed to be required by law or vested in such person. (b) EXCEPTION.—This section shall not apply to claims arising out of the Securities Act of 1933, the Securities Exchange Act of 1934, or the Constitution or laws of any State, territory, or possession of the United States relating to transactions in securities, which claims are in connection with a public offering under section 4012 of this Act.
Claims. Securities. State and local governments. 15 USC 77a. 15 USC 78a.
SEC. 4035. CHARTER AMENDMENT.
45 USC 1343.
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Within 60 days after the date of the enactment of this Act, the Corporation shall amend its Articles of Incorporation to contain the following provision, which provision shall not be subject to amendment or repeal: "It shall be a fundamental purpose of the Corporation to maintain continued rail service in its service area.". SEC. 4036. STATUS OF CONRAIL AFTER SALE.
45 USC 1344.
The Corporation shall be a rail carrier as defined in section 10102(19) of title 49, United States Code, notwithstanding this part. SEC. 4037. EFFECT ON CONTRACTS.
45 USC 1345.
Nothing in this part shall affect any obligation of the Corporation to carry out its transportation contracts and equipment leases, equipment trusts, and conditional sales agreements, in accordance with their terms. SEC. 4038. RESOLUTION OF CERTAIN ISSUES.
(a) EMPLOYEE ISSUES.—Section 4024 completely and finally— (1) extinguishes all employee rights, and any obligatioji of the United States, under section 401(e) of the Regional Rail Reorganization Act of 1973 (45 U.S.C. 761(e)) as in effect immediately before the date of the enactment of this Act; ^ (2) resolves any and all claims against the Corporation or any other person arising under the Definitive Agreement referred to
45 USC 1346.
Claims,
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