Equipment Interchange Act

[AI summary unavailable — showing source text] States that any common carrier by railroad, motor vehicle, water, or air, may enter into an agreement for the interchange of equipment with another mode of common carrier, and for the establishment of procedures to determine rates of compensation for such interchanged equipment. Provides that the Chairmen of the Civil Aeronautics Board, the Federal Maritime Commission, and the Interstate Commerce Commission to each appoint one member from their respective agencies to act as a joint board to consider and approve or disapprove agreement between carriers under this Act. Sets for th procedures for the consideration of agreements by the Joint Board, and exempts approved agreements from the operation of the antitrust laws.…