§ 46-8-55. Standard of Care for Directors and Officers in Discharge of Duties; Reliance Upon Financial Information
A director shall discharge his duties as a director, including his duties as a member of a committee: In good faith; and With the care an ordinarily prudent person in a like position would exercise under similar circumstances. In discharging his duties, a director is entitled to rely on information, opinions, reports, or statements, including […]
§ 46-8-120. Powers of Railroad Companies Generally
Any railroad company owning or operating a railroad in this state, whether such company is chartered under the laws of this state or under the laws of any other state, is authorized and empowered: To reconstruct its lines or tracks, to build one or more additional main tracks, to relocate any line or portions of […]
§ 46-8-70. Application by Railroad Company That Company Surrender Its Franchises and Cease Performing as a Common Carrier; Hearing Before Commission; Effect of Outstanding Debts on Company
Any railroad corporation chartered by the Secretary of State and owning and operating in this state any railroad, other than a street railroad, not over five miles long may cease, temporarily or permanently, to exercise its franchises and to perform its duties as a common carrier and may surrender its franchises to the state by […]
§ 46-8-71. Dissolution of Railroad Corporation Generally
A railroad corporation which is organized under the laws of this state and chartered by the Secretary of State and which has surrendered its franchises to the state in accordance with Code Section 46-8-70 or which has sold its property, rights, and franchises to another corporation in accordance with Code Section 46-8-106, and which has […]
§ 46-8-42. Certificate of Incorporation; Duration of Corporate Existence; Fee for Issuance of Certificate
When the petition has been filed with the Secretary of State, he shall issue to the company under the great seal of the state the following form of certificate: To all to whom these presents may come — Greetings: Whereas, In pursuance of an Act of the General Assembly of the State of Georgia, approved […]
§ 46-8-43. Duties of Secretary of State Prior to Issuance of Certificate of Incorporation; Certificate or Duplicate Thereof as Evidence of Existence of Corporation and Compliance With Chapter
Before the Secretary of State issues a certificate of incorporation pursuant to Code Section 46-8-42, he shall satisfy himself that all of the requirements of this chapter have been substantially complied with prior to the filing of said petition. Any certificate or duplicate thereof issued under this chapter by the Secretary of State shall be […]
§ 46-8-44. Subscription to Capital Stock; Par Value of Stock; Subscription to All Capital Stock as Prerequisite to Beginning Railroad Construction
When the certificate of incorporation has been issued, the persons named therein, in case they have not subscribed to the entire capital stock, may open books of subscription to complete the subscription to the capital stock of the company, in such places and after giving such notice as they may deem expedient, and may from […]
§ 46-8-45. Payment of Subscriptions; Procedure by Directors in Case of Default by Subscriber
The directors may require the subscribers to the capital stock to pay the amounts variously subscribed by them, in such installments as they may deem proper; and the directors may receive cash or property, either real or personal, at the agreed value thereof, in payment of such installments. If any subscriber neglects to pay any […]
§ 46-8-46. Procedures Regarding Organizational Meeting; Qualifications of Directors; Selection of Officers and Agents; Annual Election of Directors; Filling of Vacancies on Board
When all of the capital stock has been subscribed to, the persons named in the certificate of incorporation or a majority of them are authorized to call a meeting of the stockholders for the purpose of organization, which meeting shall be held in the city in which the principal office of the company is located, […]
§ 46-8-47. Determination of Directors’ Compensation; Appointment of Chairman and Vice-Presidents; Time and Place of Board Meetings; Procedures Regarding Board Meetings
The board of directors shall have the authority to fix the compensation of directors for services in any capacity unless otherwise provided in the charter or the bylaws. The board of directors may select or appoint one of their number to be chairman of the board of directors. The chairman of the board of directors […]