{"data":{"id":"us/49-cfr-1150.31","jurisdiction":"us","citation":"49 CFR 1150.31","heading":"Scope of exemption.","body":"(a) Except as indicated below, this exemption applies to all acquisitions and operations under section 10901 (See 1150.1, supra). This exemption also includes:\n(1) Acquisition by a noncarrier of rail property that would be operated by a third party;\n(2) Operation by a new carrier of rail property acquired by a third party;\n(3) A change in operators on the line; and\n(4) Acquisition of incidental trackage rights. Incidental trackage rights include the grant of trackage rights by the seller, or the assignment of trackage rights to operate over the line of a third party that occur at the time of the exempt acquisition or operation. This exemption does not apply when a class I railroad abandons a line and another class I railroad then acquires the line in a proposal that would result in a major market extension as defined at § 1180.3(c).\n(b) Other exemptions that may be relevant to a proposal under this subpart are the exemption for control at § 1180.2(d)(1) and (2), and the exemption from securities regulation at 49 CFR part 1177.","path":["Title 49—Transportation","Subtitle B—Other Regulations Relating to Transportation","CHAPTER X—SURFACE TRANSPORTATION BOARD","SUBCHAPTER B—RULES OF PRACTICE","PART 1150—CERTIFICATE TO CONSTRUCT, ACQUIRE, OR OPERATE RAILROAD LINES","Subpart D—Exempt Transactions Under 49 U.S.C. 10901"],"source_url":"https://www.ecfr.gov/api/versioner/v1/full/2026-08-25/title-49.xml","current_through":"2026-08-25","vintage":"","retrieved_at":"2026-08-27T02:26:34Z","sha256":"03025bd515ac999dd982403c72edc04a9e9b63e6a11d265467673219e1f222aa","source_id":"us-cfr","stale":true,"prev":"us/49-cfr-1150.24","next":"us/49-cfr-1150.32"},"notice":"GroundRules: Original legal text. Not legal advice."}