This is the determination of the Railroad Retirement Board concerning the continuing status of Short Lines, Incorporated (SLI), B.A. No. 9528, as an employer under the Railroad Retirement Act (45 U.S.C. § 231, et seq.) (RRA) and the Railroad Unemployment Insurance Act (45 U.S.C. § 351, et seq.) (RUIA). SLI was ruled to be an employer under the RRA and RUIA effective November 25, 1987 (B.C.D. 93-8).

According to Mr. Dennis Prince, President of SLI, the railroad ceased all operations and last compensated its employees on December 31, 1997. SLI never owned any equipment. The shareholders of SLI adopted a resolution to dissolve SLI as a corporation on December 30, 1997. The dissolution became effective April 21, 1998, when Articles of Termination of Corporate Existence were filed with the Secretary of State of Tennessee.

Section 202.11 of the Board’s regulations provides that:

The employer status of any company or person shall terminate whenever such company or person loses any of the characteristics essential to the existence of an employer status. 20 CFR 202.11.

The Board finds that SLI has lost the characteristics essential to the existence of its employer status because it no longer exists as a corporation.

In view of the foregoing, it is the determination of the Railroad Retirement Board that Short Lines, Incorporated ceased being an employer under the RRA and RUIA effective April 21, 1998, the date as of which it was dissolved as a corporation.