Section 1166 - Effect of Subtitle IV of Title 49 and of Federal, State or Local Regulations


Title 11 of the United States Code - Bankruptcy
REORGANIZATION – CHAPTER 11


Effect of Subtitle IV of Title 49 and of Federal, State or Local Regulations –Section 1166
11 USCS § 1166



Except with respect to abandonment under section 1170 of this title [11 USCS § 1170], or merger, modification of the financial structure of the debtor, or issuance or sale of securities under a plan, the trustee and the debtor are subject to the provisions of subtitle IV of title 49 [49 USCS §§ 10101 et seq.] that are applicable to railroads, and the trustee is subject to orders of any Federal, State, or local regulatory body to the same extent as the debtor would be if a petition commencing the case under this chapter [11 USCS §§ 1101 et seq.] had not been filed, but--
   (1) any such order that would require the expenditure, or the incurring of an obligation for the expenditure, of money from the estate is not effective unless approved by the court; and
   (2) the provisions of this chapter are subject to section 601(b) of the Regional Rail Reorganization Act of 1973 [45 USCS § 791(b)].


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