§ 23-11-505. List of lands conveyed — Assessment
(a) It shall be the duty of the Commissioner of State Lands, immediately upon the execution of any conveyance conveying lands to any railroad company, to make a list of the lands conveyed and send the list of the lands conveyed to the assessor of the county in which the lands are situated. (b) The […]
§ 23-11-403. Lessor and lessee of railroad subject to laws
A corporation in this state leasing its road to a corporation of another state shall remain liable as if it operated the road itself, and a corporation of another state, being the lessee of a railroad in this state, shall likewise be held liable for the violation of any of the laws of this state […]
§ 23-11-404. Right to tax uncurtailed
Nothing in §§ 23-11-302, 23-11-401, and 23-11-402 shall be held or construed as curtailing the right of state or counties through which a consolidated, leased, or purchased road may be located to levy and collect taxes upon the road and the rolling stock thereof, pro rata, in conformity with the provisions of the laws of […]
§ 23-11-501. Grants for purpose of aiding in construction of railroads
(a) Any person or corporation, public or private, who may wish to donate, grant, or devise any lands or other property for the purpose of aiding in the construction, building, or running of any railroad within this state, under the provisions of this act, may, by deed or otherwise, convey the lands or other property […]
§ 23-11-502. Lands forfeited upon failure to apply for and accept conveyance
Any railroad company which becomes entitled to a conveyance of any lands from the state shall apply therefor and accept a conveyance from the state within six (6) months after completion of the act by which it became entitled to the conveyance. Any company which fails to do so within the time aforesaid shall forfeit […]
§ 23-11-503. Forfeited lands revert to state
All lands forfeited under the provisions of this section and §§ 23-11-502 and 23-11-505 shall revert to and belong to the State of Arkansas and shall be sold as other lands.
§ 23-11-504. Report of failure to accept or forfeiture of lands — Lands proclaimed subject to sale
(a) The Commissioner of State Lands is charged with the duty of making inquiry and of reporting to the Governor all failures of any railroad company to make application and accept conveyance within the time specified in § 23-11-502. He or she shall report all failures with a list of the lands forfeited by the […]
§ 23-11-308. Bonds issued by leasing, purchasing, or consolidating corporation — Security for bonds
(a) For the purpose of carrying out and executing any or all of the powers granted in §§ 23-11-301, 23-11-303 — 23-11-306, 23-11-309, and 23-11-315, bonds or other evidences of debt may be issued by any leasing, purchasing, or consolidating corporation, not inconsistent with the Arkansas Constitution. (b) Mortgages or deeds of trust may be […]
§ 23-11-309. Stockholders’ consent required for purchase of stock, lease, or consolidation
No aid as provided in § 23-11-304 shall be furnished, nor shall any purchase, lease, subletting, consolidation, or arrangements be perfected, until: (1) A meeting of the stockholders of all the companies, parties to the agreement, whereby a railroad in this state may be aided, purchased, leased, sublet, consolidated, or affected by such an arrangement […]
§ 23-11-310. Articles of consolidation or purchase — Amount of capital stock
(a) Articles of consolidation or purchase shall be signed by a majority of the directors of the respective companies and shall be filed and recorded in the office of the Secretary of State. (b) The articles of consolidation or purchase shall set forth the amount of the capital stock, the names of the officers of […]