Use of capital grants to finance first-dollar liability of grant project

49 U.S.C. § 22904
in effect
Sign in to generate a plain English summaryAsk Belisarius Agent
Notwithstanding the requirements of section 22902 of this chapter, the Secretary of Transportation may approve the use of a capital assistance grant under this chapter to fund self-insured retention of risk for the first tier of liability insurance coverage for rail passenger service associated with the grant, but the coverage may not exceed $20,000,000 per occurrence or $20,000,000 in aggregate per year.

Starting a business? Corpus forms LLCs in all 50 states and DC.