Arkansas Code Title 23, Subtitle 1, Chapter 11, Subchapter 2 - Railroad Incorporation Act of 1959

• § 23-11-201 - Title.
  This subchapter shall be known as the "Railroad Incorporation Act of 1959".
• § 23-11-202 - Definitions.
  (a) For purposes of this subchapter, unless the context otherwise requires: (1) "Department" means the Arkansas State Highway and Transportation Department or such other...
• § 23-11-203 - Articles of Incorporation.
  (a) The articles of incorporation of any contemplated railroad corporation shall contain all of the information prescribed for inclusion in the application to be...
• § 23-11-204 - Formation of Railroad Corporation -- Application -- Contents.
  Any number of persons, not fewer than three (3), being subscribers of the stock of any contemplated railroad corporation and desiring to form a...
• § 23-11-205 - Application for Incorporation -- Hearing -- Order of Department.
  (a) Promptly after the filing of an application for the organization of a railroad corporation, the Arkansas State Highway and Transportation Department, under and...
• § 23-11-206 - Issuance of Charter.
  Upon the payment of the fees prescribed by law, the Secretary of State shall issue to the corporation a charter granting unto it perpetual...
• § 23-11-207 - Filing of Papers -- Effect.
  (a) Certified copies of the articles of incorporation together with copies of the charter issued by the Secretary of State and the order of...
• § 23-11-208 - Characteristics and Powers Generally of Corporation.
  When the charter and articles of incorporation shall have been filed as provided in §§ 23-11-205 and 23-11-207, the persons who shall have signed...
• § 23-11-209 - Specific Powers and Liabilities.
  Every such corporation shall possess the general powers and be subject to the general liabilities and restrictions expressed in the special powers following, that...
• § 23-11-210 - Stockholders' First Meeting.
  (a) As soon as practicable after the charter and articles of incorporation shall have been filed in the office of the Secretary of State...
• § 23-11-211 - Annual and Special Meetings of Stockholders.
  (a) Every railroad corporation incorporated under the laws of this state shall prescribe in its bylaws the time for holding an annual meeting of...
• § 23-11-212 - Voting of Shares Generally.
  (a) (1) The owner of any share of any railroad corporation organized under the law of this state may vote in person or by...
• § 23-11-213 - Board of Directors -- Members.
  (a) The directors of every railroad corporation shall have the power to make bylaws, and the bylaws shall provide for a board of directors...
• § 23-11-214 - Board of Directors -- Meetings.
  (a) Except as may be otherwise provided by law or by the bylaws, a majority of the board shall constitute a quorum for the...
• § 23-11-215 - Board of Directors -- Powers Generally.
  The management of the affairs of the corporation shall be vested in the board of directors, and, subject only to the limitations provided by...
• § 23-11-216 - Board of Directors -- Issuance of Bonds, Certificates of Indebtedness -- Security.
  In addition to the rights and powers conferred on railroad corporations by their charters and the laws of this state, the directors are authorized...
• § 23-11-217 - Dividends -- Declaration and Payment by Board of Directors.
  (a) (1) The board of directors are also empowered to declare and pay dividends to the stockholders. (2) Dividends may be declared and paid...
• § 23-11-218 - Officers and Committees of Board of Directors.
  (a) The board of directors shall select the officers of the corporation.(b) There shall be: (1) A president of the company, who shall be...
• § 23-11-219 - Subscription Contracts for Sale of Stock.
  Railroad corporations organized under the law of this state are authorized to enter into subscription contracts for the sale of their stock under such...
• § 23-11-220 - Amendment of Articles of Incorporation.
  (a) Amendments to the articles of incorporation of any railroad corporation incorporated under the law of this state shall be made only by the...
• § 23-11-221 - Dissolution or Liquidation of Railroad Corporation.
  (a) Railroad corporations organized under the laws of this state may be dissolved or liquidated, wholly or in part, after approval of the action...
• § 23-11-222 - Corporations Existing Prior to June 11, 1959 -- Application of Subchapter -- Extension of Existence.
  (a) This subchapter shall be applicable to all railroad corporations organized under the laws of this state, provided that each existing railroad corporation may,...
• § 23-11-223 - Corporations Existing Prior to June 7, 1945 -- Extension of Charter.
  (a) Upon the application of any railroad corporation chartered under the laws of this state prior to June 7, 1945, accompanied by a resolution...

Last modified: November 15, 2016