§ 1206.1 - Uniform System of Accounts for common and contract motor carrier of passengers not prescribed.

The Uniform System of Accounts for motor carriers of passengers found at § 1206.2, Uniform System of Accounts for common and contract motor carriers of passengers, shall no longer be prescribed for regulated motor carriers. The Uniform System of Accounts is herein left in place for reference purposes only as the basis of motor carrier accounting and reporting. Motor carriers may follow generally accepted accounting principles for all accounting and reporting matters. For reporting requirements, see § 1249.3 and § 1249.4 of Title 49, Code of Federal Regulations. This provision is effectively beginning January 1, 1987 and thereafter.