[Code of Federal Regulations]
[Title 49, Volume 7]
[Revised as of October 1, 2004]
From the U.S. Government Printing Office via GPO Access
[CITE: 49CFR1013.2]

[Page 42]
 
                        TITLE 49--TRANSPORTATION
 
  CHAPTER X--SURFACE TRANSPORTATION BOARD, DEPARTMENT OF TRANSPORTATION
 
PART 1013_GUIDELINES FOR THE PROPER USE OF VOTING TRUSTS--Table of Contents
 
Sec. 1013.2  The irrevocability of the trust.

    (a) The trust and the nomination of the trustee during the term of 
the trust should be irrevocable.
    (b) The trust should remain in effect until certain events, 
specified in the trust, occur. For example, the trust might remain in 
effect until (1) all the deposited stock is sold to a person not 
affiliated with the settlor or (2) the trustee receives a Board decision 
authorizing the settlor to acquire control of the carrier or authorizing 
the release of the securities for any reason.
    (c) The settlor should not be able to control the events terminating 
the trust except by filing with this Board an application to control the 
carrier whose stock is held in trust.
    (d) The trust agreement should contain provisions to ensure that no 
violations of 49 U.S.C. 11343 will result from termination of the trust.