§ 124-5.1 – The Freight Rail & Rail Crossing Safety Improvement Fund.
124-5.1. The Freight Rail & Rail Crossing Safety Improvement Fund. The Freight Rail & Rail Crossing Safety Improvement Fund is a fund within the Highway Fund and administered by the Rail Division of the Department of Transportation. The Fund shall be used for the enhancement of freight rail service, short-line railroad assistance, and railroad-roadway crossing […]
§ 124-6 – Appointment of proxies, director of railroad companies, etc.
124-6. Appointment of proxies, director of railroad companies, etc. (a) The Governor shall appoint on behalf of the State all such officers or agents as, by any act, incorporating a company for the purpose of internal improvement, are allowed to represent the stock or other interests which the State may have in such company; and […]
§ 124-7 – Power of investigation of corporations.
124-7. Power of investigation of corporations. The Governor and Council of State shall have the power to investigate the affairs of any corporation or association described in G.S. 124-3 and may require the Attorney General or the Utilities Commission to assist in making such investigation under the rules and regulations prescribed in Chapter 62. (1925, […]
§ 124-11 – Definition.
124-11. Definition. As used in this Chapter, the term "State-Owned Railroad Company" shall mean a railroad company in which the State owns all of the voting stock. (2000-146, s. 7.)
§ 124-12 – Powers of a State-owned railroad company.
124-12. Powers of a State-owned railroad company. A State-owned railroad company shall have, in addition to the powers of any railroad corporation, the power to: (1) Lease, license, or improve property. – A State-owned railroad company may lease, license, or improve its right-of-way and property, whether held by easement, presumptive grant, express grant, or otherwise, […]
§ 124-13 – Effect on State-owned railroad company charter.
124-13. Effect on State-owned railroad company charter. Nothing in this Chapter repeals or modifies any State-owned railroad company charter or limits the rights of the shareholders of the company as provided in Chapter 55 of the General Statutes. (2000-146, s. 7.)
§ 124-15 – Board of directors; appointment and approval of encumbrances.
124-15. Board of directors; appointment and approval of encumbrances. (a) Notwithstanding subsection (a) of G.S. 124-6, for any State-owned railroad company that has trackage in more than two counties, seven of the members of the Board of Directors shall be appointed by the Governor, three of the members of the Board of Directors shall be […]
§ 124-16 – Strategic plan and capital investment plan required of State-owned railroad company; performance management system.
124-16. Strategic plan and capital investment plan required of State-owned railroad company; performance management system. (a) Any State-owned railroad company shall prepare and maintain a comprehensive strategic plan and a capital investment plan. The strategic plan shall include a mission statement describing the purpose of the company and clear goals that address the strategic issues […]
§ 124-17 – Enhanced annual report of State-owned railroad company; additional reporting requirements to Governor and General Assembly.
124-17. Enhanced annual report of State-owned railroad company; additional reporting requirements to Governor and General Assembly. (a) A State-owned railroad company shall submit an annual report to the Joint Legislative Commission on Governmental Operations and the Joint Legislative Transportation Oversight Committee. The report shall include the following: (1) The information required under G.S. 124-3. (2) […]
§ 124-1 – Control of internal improvements.
124-1. Control of internal improvements. The Governor and Council of State shall have charge of all the State’s interest in all railroads, canals and other works of internal improvements. The Board of Directors of a State-owned railroad company shall be responsible for managing its affairs and for reporting as set forth in G.S. 124-17. (1925, […]