US Lawyer Database

§ 23-11-313. Debts of purchased or consolidated companies — Claims

(a) (1) Whenever any railroad company, corporation, or individual purchases any railroad from any other railroad company, corporation, or individual, the company, corporation, or individual purchasing shall take and hold the railroad subject to all debts, liabilities, and obligations of the company from which the road was purchased. (2) Whenever any two (2) or more […]

§ 23-11-314. Forfeiture of lease — Ouster

(a) The franchise and all charter rights whatsoever of any railroad company in and to all railroad, roadbed, bridge, depot, or other railroad property, as well as the possession of, and right to operate, which may have been acquired by the railroad under and by virtue of any lease, shall be forfeited and the railroad […]

§ 23-11-301. Authority of railroad to sell or lease road or property

Every railroad corporation incorporated under the laws of this state whose road is wholly or in part constructed and operating is authorized to sell, lease, or otherwise dispose of the whole, or any part, of its roadways, and rights-of-way, with the franchises thereto belonging, and its other property to any connecting railroad company or to […]

§ 23-11-305. Consolidation when lines connect at state boundary line

(a) Any railroad companies organized under the laws of this state whose roads connect at the boundary line of this state are authorized to consolidate and form one (1) company owning and controlling the consolidated line of road, with all the powers, rights, privileges, immunities, and franchises, and subject to all the obligations and liabilities, […]

§ 23-11-306. Consolidation of two or more railroad companies to effect continuous line

(a) Any two (2) or more railroad companies in this state, existing under either general or special laws, owning railroads which are constructed wholly or in part and which, when completed and connected, will form one (1) continuous line of railroad continuing and running in the same general direction are authorized to consolidate their stock […]

§ 23-11-307. Consolidation with foreign corporation

(a) Any corporation formed under the laws of this state and chartered thereby may consolidate with any corporation of any adjoining state in the manner provided by law. (b) The consolidated corporation shall become, be, and remain a corporation of this state and amenable to its laws and courts. (c) (1) No such consolidation shall […]